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Strategies & Market Trends : Booms, Busts, and Recoveries
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To: Raymond Duray who wrote (33178)5/7/2003 3:35:16 AM
From: elmatador  Read Replies (1) of 74559
 
It started in October of 2000 the UN opened an Iraq account in euro, after Iraq had indicated that it would cut its oil supply if this was not done. The mere threat resulted in
soaring oil prices, as Iraq accounts for 5% of the world's supply.

I am not sure but also Russia is linking its oil price to the Euro too.
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