The European Union has convened a wide-ranging industrial group to work on promoting the euro and fighting the monopoly of the U.S. dollar in oil and commodities trading, reflecting broader tensions with Washington over trade and sanctions. The group, which involves executives from European oil firms such as OMV and Eni and gas and power firms such as Fluxys and Engie, will meet behind closed doors in Brussels under the auspices of the European Commission on Thursday. The workshop is part of an EU push to challenge the dominance of the dollar, with an EU official saying such a shift must be market-led. Participants are invited to dig into “constraints on (market-initiated) alternatives to the use of U.S. dollar through wider use of the euro, in […]