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EU Commission pushes for wider use of euro in global markets

Reuters  |  BRUSSELS 

BRUSSELS (Reuters) - The European Commission published on Wednesday non-binding proposals to boost the role of the euro in international payments and as a reserve currency to challenge the dominance of the dollar.The move follows the United States' decision to withdraw from the Iran nuclear deal which has forced many European companies to stop trading with Iran to avoid U.S. sanctions. The EU executive Commission called on companies and states to increase their use of the euro in energy contracts and said it would study possible measures to promote the European currency in financial and ...

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First Published: Wed, December 05 2018. 16:55 IST