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Iran Drops Dollor

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posted on Dec, 19 2006 @ 12:52 PM
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news.bbc.co.uk
Analysts said Tehran had been steadily shifting its foreign-held assets out of dollars since 2003 and that Monday's announcement was unlikely to affect the value of the dollar, which has weakened significantly in recent months.

An Iranian spokesman said all its foreign exchange transactions would be conducted in euros and its national budget would also be calculated in euros as well as its own currency.

"There will be no reliance on dollars," said Gholam-Hussein Elham.

"This change is already being made in the currency reserves abroad."

The currency move will apply to oil sales although it is expected that Iran, the world's fourth largest oil producer, will still accept oil payments in dollars.



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This has also been in response to US pressure to put sanctions on Iran and
This isn’t really a surprise since it was inevitable that someone in the Middle East would finally drop the dollar because of its unstable value during the last couple of years.




posted on Dec, 19 2006 @ 02:20 PM
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Welp, so they've made the first move.
They've got the ball rolling, they know how to hurt America

Be interesting to see how this all pans out. Do the Russians deal in US $'s?

Would it surprise anyone if Venezuela followed suit?



posted on Dec, 19 2006 @ 02:26 PM
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Originally posted by Toadmund
Welp, so they've made the first move.
They've got the ball rolling, they know how to hurt America

Be interesting to see how this all pans out. Do the Russians deal in US $'s?

Would it surprise anyone if Venezuela followed suit?


i have read a while ago that russia wants to stop using USD and since chavs has been elected back in its very likely that he will follow suit of his friends in the middle east and opt out of the Dollor aswell for the euro



posted on Dec, 19 2006 @ 03:59 PM
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Already being discussed: politics.abovetopsecret.com...

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