The group involves executives from European energy giants, including OMV, Eni, Fluxys, and Engie; all of which are part of a group that reflects the preference of the European Commission for a market-led strategy driven by viable alternatives to the use of the US dollar.
“The EU is the world’s largest energy importer with an annual energy import bill averaging €300 billion in the last five years. Roughly 85% of this amount is paid in US dollars,” according to a statement from the organisers of the meeting.
Full article available: https://www.neweurope.eu/article/eu-looks-into-replacing-dollar-for-energy-transactions/