Iran has completely stopped selling any of its oil for US dollars, an Iranian news agency reported yesterday, citing the oil minister of the world's fourth-largest crude producer.
The ISNA news agency did not give a direct quote from Oil Minister Gholamhossein Nozari. A senior oil official last month said "nearly all" of Iran's crude oil sales were now being paid for in non-US currencies.
For nearly two years, Opec’s second biggest producer has been reducing its exposure to the dollar, saying the weak US currency is eroding its purchasing power....MORE
Monday, December 10, 2007