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Jesus Malverde

(10,274 posts)
Sat Feb 6, 2016, 11:34 PM Feb 2016

Exclusive: Iran wants euro payment for new and outstanding oil sales - source

Source: Reuters

Iran wants to recover tens of billions of dollars it is owed by India and other buyers of its oil in euros and is billing new crude sales in euros, too, looking to reduce its dependence on the U.S. dollar following last month's sanctions relief.

A source at state-owned National Iranian Oil Co (NIOC) told Reuters that Iran will charge in euros for its recently signed oil contracts with firms including French oil and gas major Total, Spanish refiner Cepsa and Litasco, the trading arm of Russia's Lukoil.

"In our invoices we mention a clause that buyers of our oil will have to pay in euros, considering the exchange rate versus the dollar around the time of delivery," the NIOC source said.

Lukoil and Total declined to comment, while Cepsa did not respond to a request for comment.

Read more: http://www.reuters.com/article/us-oil-iran-exclusive-idUSKCN0VE21S



The only alternative to the petro-dollar is war.
12 replies = new reply since forum marked as read
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Exclusive: Iran wants euro payment for new and outstanding oil sales - source (Original Post) Jesus Malverde Feb 2016 OP
. Wilms Feb 2016 #1
Bad things happen to countries that stop taking dollars for oil. n/t PoliticAverse Feb 2016 #2
Isn't that why we rainy Feb 2016 #3
No. Bernin Feb 2016 #4
It was one of the real reasons n/t Pastiche423 Feb 2016 #5
That's why we went to war with Iraq. Turbineguy Feb 2016 #6
Just one of the reasons for Libya. polly7 Feb 2016 #11
They can price their oil in whatever currency they desire. Whoopie ding dong. roamer65 Feb 2016 #7
Exactly... SkyDaddy7 Feb 2016 #8
they should jamzrockz Feb 2016 #9
It is not going to "piss off the West" SkyDaddy7 Feb 2016 #12
They know that a Republican president could put sanctions on them again. CJCRANE Feb 2016 #10

polly7

(20,582 posts)
11. Just one of the reasons for Libya.
Sun Feb 7, 2016, 10:19 AM
Feb 2016

Gaddafi was trying to introduce a single African currency linked to gold and wanted to introduce and only trade in the African gold Dinar.

African nations would have finally had the power to bring themselves out of debt and poverty and only trade in this precious commodity. They would have been able to finally say ‘no’ to external exploitation and charge whatever they felt suitable for precious resources.

"It has been said that the gold Dinar was the real reason for the NATO led rebellion, in a bid to oust the outspoken leader."



”We hope Iraq will be the first domino and that Libya and Iran will follow. We don’t like being kept out of markets because it gives our competitors an unfair advantage,” http://www.halliburtonwatch.org/about_hal/libya.html

roamer65

(36,745 posts)
7. They can price their oil in whatever currency they desire. Whoopie ding dong.
Sun Feb 7, 2016, 02:06 AM
Feb 2016

There is large oil glut and soon it will be $15 a barrel.

 

jamzrockz

(1,333 posts)
9. they should
Sun Feb 7, 2016, 10:08 AM
Feb 2016

try and price it in yuan or rubles. This would piss off the west and NATO even more and cut out any gain to their currency from the increase in demand for it.

This is a dangerous move, I hope they have it all planned out

SkyDaddy7

(6,045 posts)
12. It is not going to "piss off the West"
Sun Feb 7, 2016, 11:54 AM
Feb 2016

Keep hoping but it will have no effect on NATO countries or the dollar it is just politics. And NO it is not dangerous for Iran.

CJCRANE

(18,184 posts)
10. They know that a Republican president could put sanctions on them again.
Sun Feb 7, 2016, 10:19 AM
Feb 2016

They also know that the petrodollar funds Wahabbism which works against them.

However, I'm not sure the Europeans are more trustworthy.

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