Tehran dumps US dollar

[Sir Bandelot]

Iran's President Mahmoud Ahmadinejad has ordered the replacement of the US dollar by the euro in calculating the value of the country's Oil Stabilisation Fund (OSF).

The edict, issued on Sept 12, follows a recommendation by the trustees of the country's foreign reserves, Iran's English-language daily The Tehran Times said on Monday, citing Iran's semi-official Mehr News Agency.

http://www.arabianbusiness.com/568241-tehr...dollar-for-euro

This occurred on September 12, just prior to the UN conference.

Coincidence? I think not

[GostHacked]

Iran's President Mahmoud Ahmadinejad has ordered the replacement of the US dollar by the euro in calculating the value of the country's Oil Stabilisation Fund (OSF).

The edict, issued on Sept 12, follows a recommendation by the trustees of the country's foreign reserves, Iran's English-language daily The Tehran Times said on Monday, citing Iran's semi-official Mehr News Agency.

http://www.arabianbusiness.com/568241-tehr...dollar-for-euro

This occurred on September 12, just prior to the UN conference.

Coincidence? I think not

Iran has been wanting to move away from the US dollar for its oil market for a couple decades now. They tried it some time ago, and the US got mad. And the US are going to be just as angry over this. More so than the nuke program Iran is said to have. If you want to deal oil and deal with the US, the oil will be traded in US dollars only.