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Enron Mail |
thanks. these are great updates....
Jeff Robert Johnston 10/27/2000 03:32 PM To: Jeffrey A Shankman/HOU/ECT@ECT cc: Subject: EURO The French are pushing for the $10B conversion because they view it as a "free intervention." If the Iraqis converted the account all at once, it would be 2X bigger than the September G7 intervention. Not clear yet if they will do a conversion of the account, or if they will just do oil contracts going forward in euros. RJ ---------------------- Forwarded by Robert Johnston/HOU/ECT on 10/27/2000 03:23 PM --------------------------- Robert Johnston 10/27/2000 10:07 AM To: Gary Hickerson/HOU/ECT@ECT cc: Shane Dallmann/LON/ECT@ECT, Trena McFarland/NA/Enron@Enron, William Stuart/HOU/ECT@ECT, Steve Jacobellis/NA/Enron@Enron, Aaron Armstrong/LON/ECT@ECT, Jurgen Hess/LON/ECT@ECT, Martina Angelova/LON/ECT@ECT, Pushkar Shahi/HOU/ECT@ECT, Darren Delage/AP/Enron@Enron Subject: PLEASE READ- EURO We continue to monitor the oil/Euro on two fronts. With respect to Iraq, the US has dropped its opposition to allowing Baghdad to receive its oil revenues from the UN oil-for-food program in euros rather than dollars. This means that the estimated 10 billion $US in Iraq's BNP account could be converted to euros in the next 30 days, perhaps all at once. We are looking into the exact timing and process for this conversion. Per our report on Wednesday about Welteke lobbying the Saudis to convert their oil trading to euros, we await further information We will keep you posted as new information comes in. RJ
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