Iran: Euro To Replace Dollar As Oil Currency:
Welcome to Georgies War
By AKI
Tehran, 5 May (AKI) - In July Iran will ditch the dollar in favour of the euro as the currency in which it will accept payments for its oil and natural gas exports, Iranian president Mahmoud Ahmadinejad announced Friday. The switch, first mooted months ago, was expected but Ahmadinejad's decision comes just as Washington is stepping up pressure on other United Nations Security Council members to act against Tehran for flouting agreements taken with the UN's nuclear watchdog.
Ahmadinejad's announcement, made in Baku, Azerbaijan where the Iranian leader is attending a regional economics conference, appears aimed at weakening the United States' resolve to seek sanctions against Iran if it does not comply with the UN International Agency for Atomic Energy's demands.
Some observers beleive the Iranian move could deal a severe blow the the American currency as many central banks from oil importing nations could choose to stock up their currency reserves with euros rather than dollars.
Link Here
Iran sees oil bourse in two months
Web posted at: 5/6/2006 1:15:2
Source ::: REUTERS
BAKU: Iran plans to launch an oil bourse on the Gulf island of Kish within the next two months, Iranian President Mahmoud Ahmadinejad said yesterday.
“Our specialists are currently working on the plan and the bourse will start working within the next two months,” he told a regional conference in the Azeri capital of Baku.
Iranian officials have previously said the bourse would be a small pilot operation trading only two or three petrochemical products and it would start before March 2007, a delay from previous plans.
Western media and think-tanks have speculated that Iran’s oil bourse could undermine the importance of the dollar by pricing the world’s fourth biggest exports of crude in euros.
Mohammad Javad Asemipour, adviser to Iran’s oil minister and head of the bourse project, has previously dismissed such suggestions as “propaganda” and rejected reports that the bourse was intended to rival exchanges being set up in Dubai and Qatar.
He has said switching to crude sales would have to be phased in gradually and depends on the success of the petrochemicals trading.
Link Here
By AKI
Tehran, 5 May (AKI) - In July Iran will ditch the dollar in favour of the euro as the currency in which it will accept payments for its oil and natural gas exports, Iranian president Mahmoud Ahmadinejad announced Friday. The switch, first mooted months ago, was expected but Ahmadinejad's decision comes just as Washington is stepping up pressure on other United Nations Security Council members to act against Tehran for flouting agreements taken with the UN's nuclear watchdog.
Ahmadinejad's announcement, made in Baku, Azerbaijan where the Iranian leader is attending a regional economics conference, appears aimed at weakening the United States' resolve to seek sanctions against Iran if it does not comply with the UN International Agency for Atomic Energy's demands.
Some observers beleive the Iranian move could deal a severe blow the the American currency as many central banks from oil importing nations could choose to stock up their currency reserves with euros rather than dollars.
Link Here
Iran sees oil bourse in two months
Web posted at: 5/6/2006 1:15:2
Source ::: REUTERS
BAKU: Iran plans to launch an oil bourse on the Gulf island of Kish within the next two months, Iranian President Mahmoud Ahmadinejad said yesterday.
“Our specialists are currently working on the plan and the bourse will start working within the next two months,” he told a regional conference in the Azeri capital of Baku.
Iranian officials have previously said the bourse would be a small pilot operation trading only two or three petrochemical products and it would start before March 2007, a delay from previous plans.
Western media and think-tanks have speculated that Iran’s oil bourse could undermine the importance of the dollar by pricing the world’s fourth biggest exports of crude in euros.
Mohammad Javad Asemipour, adviser to Iran’s oil minister and head of the bourse project, has previously dismissed such suggestions as “propaganda” and rejected reports that the bourse was intended to rival exchanges being set up in Dubai and Qatar.
He has said switching to crude sales would have to be phased in gradually and depends on the success of the petrochemicals trading.
Link Here
posted by Kangaroo Brisbane Australia at 9:07 PM
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