Iran dumps U.S. dollar for oil trades

TEHRAN, Iran (AP) -- Iran, OPEC's second-largest producer, has stopped conducting oil transactions in U.S. dollars, a top Oil Ministry official said Wednesday, in a concerted attempt to reduce reliance on Washington at a time of tension over Tehran's nuclear program and suspected involvement in Iraq.

CNN Source

Edit to add Source Link



[edit on 30-4-2008 by alphabetaone]

This certainly won't help in relieving tension with Washington.

While Iran has been divesting themselves of the USD for a while now, I don't think they have ever said "we're done with the dollar" up to this point.

Hopefully people take this with the grain of salt it deserves. This is not a reason to escalate things further, in my opinion, with Iran. I'm sure some would argue that though.


AB1

[edit on 30-4-2008 by alphabetaone]

I think Iran is next inline for war and it won't matter what they do with our dollar.

[edit on 4/30/2008 by Solarskye]

reply to post by alphabetaone
I think they have been threatening to do this for awhile now. perfect timig given how weak the US is. There is alot of ways to wage war, Iran is firing shots. I read somewhere that Iraq threatened to drop the US dollar for oil in 1999, along with Iran. Two years later....Iraq invaded under the guise of WMD/911 links etc. Wonder what will come of this Iranian economic attack on the states.

Do I hear the war drums . . . they have been singing since February, and by Bush God he will bring down the Iran axis of evil before he leaves the white House.

kind of his last entry for the annals of history

Originally posted by Solarskye


I think Iran is next inline for war and it won't matter what they do with our dollar.

[edit on 4/30/2008 by Solarskye]

I ten to agree, I also believe that Iran is next in the Pentagon's Reticle, however, I think it matters to US, the people, what Iran chooses to do or not to do with the USD.

If more of OPEC becomes aligned with their stance, it could spell out a lot more trouble for our douring economy. I think this is what I'm most concerned with. Seconded by the complete stupidity of the US actually instantiating war with Iran.


AB1

reply to post by atlasastro


Agreed. They are firing shots across our bow.

I don't think thatIran solely wll affect the value of the USD alone, they would need more participants to conform to their viewpoint for us to feel the effects of this move away from the dollar.


AB1

reply to post by marg6043



LOL

Yes Marg, the war drums may well be beating.

I can't seem to get the anals of history out of my mind hahaha


typo with deliberation and full intent



AB1

Hey you know that we can not get the words that we really want to write in our post sometimes.

If I do, I would be banned.

Marg,

More often than not, that makes 2 of us! lol

I'm hoping though, that we're BOTH wrong in this instance...however, see my next post for information regarding why I think we're both RIGHT!


AB1

I hear the sound....



The sound Marg spoke of, the war drums beating:

WASHINGTON (CNN) -- Venezuela's associations with terror states, Iran's meddling in Iraq and the resurgence of al Qaeda in Afghanistan top the concerns in a new State Department report on terrorism threats in countries around the world.

CNN Source

This is reminiscent of what?? The infamous "axis of evil" speech?


AB1