Iran won't sell oil using dollars

[The Blue Flower]

http://seattletimes.nwsource.com/html/nationworld/2004384603_wdig01.html

Iran won't sell oil using dollars
Tehran, Iran

Iran, OPEC's second-largest producer, has stopped conducting oil transactions in U.S. dollars, an official said Wednesday, at a time of tension over Iran's nuclear program and suspected involvement in Iraq.

World markets price oil in U.S. dollars. Its declining value has concerned producers because it has contributed to rising crude oil prices and has eroded the value of their dollar reserves.

"The dollar has totally been removed from Iran's oil transactions," Hojjatollah Ghanimifard, a top Oil Ministry official, told state-run television Wednesday. "In Europe, Iran's oil is sold in euros, but both euros and yen are paid for Iranian crude in Asia," he said.

[BrklynLib at work]

1. Fear of Iraq doing exactly that, is the reason prez shit-for-brains and the other neo-cons hit them

[RB TexLa]

2. Why shouldn't they use Euros? I'd much rather be paid in Euros than Dollars for my oil

[Cant trust em]

3. I heard on NPR yesterday that this won't have that big of a deal

on the other hand, if Saudia Arabia did it, then we'd be effed. This does start a troubling trend though.

[bdamomma]

4. yea, Saudi Arabia would be screwing the oil boys bush and cheney badly

if they switched over to the Euro.

[Parche]

5. Its Their Oil

So they can accept Yen/Peso's if all I care
:woohoo: :hi: