Exclusive: Iran wants euro payment for new and outstanding oil sales - source

[Jesus Malverde]

Source: Reuters

Iran wants to recover tens of billions of dollars it is owed by India and other buyers of its oil in euros and is billing new crude sales in euros, too, looking to reduce its dependence on the U.S. dollar following last month's sanctions relief.

A source at state-owned National Iranian Oil Co (NIOC) told Reuters that Iran will charge in euros for its recently signed oil contracts with firms including French oil and gas major Total, Spanish refiner Cepsa and Litasco, the trading arm of Russia's Lukoil.

"In our invoices we mention a clause that buyers of our oil will have to pay in euros, considering the exchange rate versus the dollar around the time of delivery," the NIOC source said.

Lukoil and Total declined to comment, while Cepsa did not respond to a request for comment.

Read more: http://www.reuters.com/article/us-oil-iran-exclusive-idUSKCN0VE21S

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The only alternative to the petro-dollar is war.

[Wilms]

1. .

[PoliticAverse]

2. Bad things happen to countries that stop taking dollars for oil. n/t

[rainy]

3. Isn't that why we

went after Saddam?

[Bernin]

4. No.

That was Bush family personal business.

Remember "He tried to kill my dad!"

[Pastiche423]

5. It was one of the real reasons n/t

[Turbineguy]

6. That's why we went to war with Iraq.

Of course, we have a grown-up in the Whitehouse now.

[polly7]

11. Just one of the reasons for Libya.

Gaddafi was trying to introduce a single African currency linked to gold and wanted to introduce and only trade in the African gold Dinar.

African nations would have finally had the power to bring themselves out of debt and poverty and only trade in this precious commodity. They would have been able to finally say ‘no’ to external exploitation and charge whatever they felt suitable for precious resources.

"It has been said that the gold Dinar was the real reason for the NATO led rebellion, in a bid to oust the outspoken leader."



”We hope Iraq will be the first domino and that Libya and Iran will follow. We don’t like being kept out of markets because it gives our competitors an unfair advantage,” http://www.halliburtonwatch.org/about_hal/libya.html

[roamer65]

7. They can price their oil in whatever currency they desire. Whoopie ding dong.

There is large oil glut and soon it will be $15 a barrel.

[SkyDaddy7]

8. Exactly...

And from the looks of things there might not be a Euro much longer anyway.

[jamzrockz]

9. they should

try and price it in yuan or rubles. This would piss off the west and NATO even more and cut out any gain to their currency from the increase in demand for it.

This is a dangerous move, I hope they have it all planned out

[SkyDaddy7]

12. It is not going to "piss off the West"

Keep hoping but it will have no effect on NATO countries or the dollar it is just politics. And NO it is not dangerous for Iran.

[CJCRANE]

10. They know that a Republican president could put sanctions on them again.

They also know that the petrodollar funds Wahabbism which works against them.

However, I'm not sure the Europeans are more trustworthy.