EU pushes for broader global use of euro to challenge dollar | Reuters:
The European Commission published on Wednesday non-binding proposals to boost the role of the euro in international payments and its use as a reserve currency to challenge the dominance of the dollar.
The move follows the decision by the United States to withdraw from an agreement with Iran on its nuclear program. That has forced many European companies to stop trading with Iran to avoid U.S. sanctions.
The European Commission called on companies and states to increase their use of the euro in energy contracts. It said it would study possible measures to promote the European Union currency in financial and commodity markets.
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