Iran planning to stop using U.S. dollar to price oil, central bank governor says

[babylonsister]

http://www.iht.com/articles/ap/2007/03/28/business/AS-FIN-Malaysia-Iran-Oil-Dollars.php

Iran planning to stop using U.S. dollar to price oil, central bank governor says
The Associated Press
Published: March 28, 2007

KUALA LUMPUR, Malaysia: Iran is planning to stop using the U.S. dollar to price oil, with less than half of its oil income now paid in the U.S. currency, Iran's central bank governor said.

"That's the plan for the future, we are working on that," Governor Ebrahim Sheibany said in an interview with Zawya Dow Jones News Service late Tuesday when asked if Iran was planning to stop pricing oil in dollars. He was speaking on the sidelines of an Islamic finance forum in Kuala Lumpur, Malaysia's largest city.

In global markets, oil is priced in U.S. dollars per barrel.

"More than 50 percent of Iran's oil income is paid in other currencies. We are reducing the dollar share and asking clients to pay in other currencies," Sheibany said.

Sheibany said that almost all of Iran's European clients and some of its Asian customers have accepted making payments in non-dollar currencies.

"Even if we get dollars, we directly convert it to other currencies. Japanese don't mind paying us in yen, for example," he said.

Sheibany noted that Iran has earned more than US$45 billion (€34 billion) from oil sales during the current fiscal year, which ended March 20.

more...

[hippiechick]

1. ... and that, my friends, is why * wants to bring 'democracy' to Iran ...

Game. Set. Match. :nuke:

[BeHereNow]

2. Ummm, game.. set... match...

and kiss your way of life good bye.
Eh?

The shit is about to hit the fan, as in-
we, who have been paying attention,
have seen this before.

BHN:scared:

[Peace Patriot]

3. I read something, way back when, about Saddam converting Iraq's sales from the

dollar to the euro--and saying that THAT was the reason for the invasion. I thought it was a pretty interesting theory. I've also read recently that India, Russia and China had a meeting concerning what to do to stop the Bushcons from attacking Iran. I don't know what strategies came out of it, but it certainly occurred to me that crashing the US dollar might be one of them. Also, China has the ability to call in our debt at any time.

I doubt that Iran would do anything precipitous that was not coordinated with other countries. Is this the "tip of the iceberg" of 'The Plan' to stop the US/Bush Cartel from invading and occupying the rest of the Middle East?

I've noticed that the Bolivarians in South America are also moving on the economic front--toward regional cooperation through Mercosur (So. Am. trade group--alternative to US-brokered "free trade"), including discussions of a South American "Common Market" and common currency, and on regional financial institutions (such as the Bank of the South--which has bailed one country--Argentina--out of World Bank debt, and promises to help others). Remember, too, that Venezuela is a member of OPEC, and that Hugo Chavez has taken a lot of rightwing guff for visiting Iran, a fellow member, and extending a hand of friendship to them, while the Bushites call them "evil" (the "Axis of Evil" and treat them as "terrorists" (on the basis of zero evidence that they are). We could be looking at a very large worldwide strategy of isolating the US until it is rejects Bushite lawlessness and starts acting like a responsible international citizen again.