Russian oil giants consider rouble switch

13 Dec, 2007 10:36 / Updated 16 years ago

Lukoil and Rosneft say they'll consider selling their oil and gas in roubles instead of dollars, if the U.S. currency continues to depreciate.

According to executives at Russia two biggest oil companies, profits are at risk because revenues are priced in dollars and expenses are priced in roubles. The rouble gained almost 15% against the dollar in the first nine months of the year. Russia gas export monopoly Gazprom has already said its considering the a similar currency switch.