Iran Asks Japan to Pay Yen for Oil, Starting Immediately

Originally posted by Gools
UPDATE:
Nippon Oil Corp., the top Japanese petroleum wholesaler, will start paying Iran in yen instead of dollars for crude oil imports

this fall,

UPDATE:

Nippon Oil to buy Iran oil in yen

The first payments to be made in the new currency for crude oil contracts will take place in October.

Iran has been increasingly selling oil in currencies other than the US dollar, which has fallen in value.

Iran, the fourth-biggest oil exporter, has made the shift in the light of political differences with the US over its nuclear programme.

I'm sure all the recent rhetoric against Iran is not related at all. /sarcasm
.

reply to post by phoenixhasrisin


Russia and China have been threatening to do similar stuff. It's just a matter of time before there's a foreign exodus from trading in US Dollars and that's not a good thing for its strength foreign or domestic.

Dallas