Sanctions-hit Rosneft requests payment in euros in naphtha tender
MOSCOW, Aug 14 (Reuters) - Russian state oil company Rosneft
has for the first time asked buyers to use the euro as
the default currency in a spot tender to sell naphtha, an
official Rosneft document shows.
The tender, for naphtha loading from ports in Russia's Far
East, is the first time Rosneft has requested euros in an oil
product tender and reflects the company's attempts to offset any
potential negative impact of U.S. sanctions on Russia, three
"The default payment currency should be euro," the tender
document published on Rosneft's website showed. For years,
Rosneft used U.S. dollars as a default currency in contracts.
Rosneft said in the document it may consider accepting
payment in U.S. dollars or Russian roubles as well, but such a
payment should be made 'only upon mutual agreement between the
Rosneft was included in a list of some U.S. sanctions
imposed on Russian companies in 2014, although those sanctions
do not limit U.S. dollar usage in Rosneft tenders.
Last year, trading sources told Reuters that Russian energy
majors were asking Western oil buyers to prepare for using euros
instead of dollars for payments and introducing penalty clauses
in contracts as protection against possible new U.S. sanctions.
In its naphtha tender, Rosneft will offers buyers up to
180,000 tonnes of naphtha loading from the ports of Nakhodka or
Vostochniy in September-December. Bids are due by 1400 GMT on
Friday and the results will be announced on Aug. 29.
Rosneft did not reply to a Reuters request for a comment.
Previously Rosneft used only U.S. dollars as a default
currency for its oil and products sales, while the euro was
considered an alternative currency in case payment in dollars
was not available.
(Reporting by Natalia Chumakova and Olga Yagova
Editing by Katya Golubkova and Susan Fenton)
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