Global Research, April 30, 2008
TEHRAN, April 30 (Xinhua) — Iran had totally removed U.S. dollars in the country’s oil transactions, an Oil Ministry official said on Wednesday.
“The dollar has completely been removed from our oil trade…. Crude oil customers have agreed with us to use other currencies (in the trade),” Oil Ministry official Hojjatollah Ghanimifard was quoted as saying by the state television.
“We make our transactions with euros in Europe, but yen in Asia,” he added.
Due to the tensions with Washington in the past years over the nuclear disputes and the latest depreciation of dollars, Iran has vowed to decrease the greenback in its foreign trade. Iran central bank also has reduced dollars in the country’s foreign reserves. In last November’s summit of the Organization of Petroleum Exporting Countries (OPEC) in Saudi Arabia, Iran proposed that it was necessary to replace the U.S. dollar with other major hard currencies in oil trading. But some Arab allies of the United States showed few support to Tehran’s advice.
However, Iran’s Oil Minister Gholam Hossein Nozari has already declared in last December that Tehran had completely stopped selling its oil in dollars, according a report by the semi-official ISNA news agency at that time.
“In line with the policy of selling crude oil in non dollar currencies, currently selling our country’s oil in U.S. dollars has been completely stopped,” Nozari was then quoted as saying. Right now it’s not clear why there seems to be a contradiction between comments by the two officials over the exact time to stop dollars in Iran’s oil trade.
The CRG grants permission to cross-post original Global Research articles on community internet sites as long as the text & title are not modified. The source and the author’s copyright must be displayed. For publication of Global Research articles in print or other forms including commercial internet sites, contact: email@example.com
www.globalresearch.ca contains copyrighted material the use of which has not always been specifically authorized by the copyright owner. We are making such material available to our readers under the provisions of “fair use” in an effort to advance a better understanding of political, economic and social issues. The material on this site is distributed without profit to those who have expressed a prior interest in receiving it for research and educational purposes. If you wish to use copyrighted material for purposes other than “fair use” you must request permission from the copyright owner.
For media inquiries: firstname.lastname@example.org
© Copyright, Xinhua, 2008
The url address of this article is: www.globalresearch.ca/index.php?context=va&aid=8853