FAO idiots who thought Iraq was invaded due to desire to sell oil for EUR

[AtW]

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

"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 (TOTF.PA), Spanish refiner Cepsa CPF.GQ and Litasco, the trading arm of Russia's Lukoil (LKOH.MM).

"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.

Iran has also told its trading partners who owe it billions of dollars that it wants to be paid in euros rather than U.S. dollars, said the person, who has direct knowledge of the matter."


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

[scooterscot]

Oh dear..

Okay lets play along. What happens when oil is traded world wide with the Euro? Brexit equals exit, darn, cause like the pound crashes and you're importing oil in euros . And the US is self dependant on it's own oil and dollar crashes some more.


This could be fun.

[SpontaneousOrder]

Well, given that all this anti-Assad malarky is a proxy war against Iran, it will be interesting to see if that is stepped up in the near future.

[AtW]

Well, given that all this anti-Assad malarky is a proxy war against Iran, it will be interesting to see if that is stepped up in the near future.

Iran is spending tens of billions of it's frozen cash in the West now, it's big business - they won't get bombed until they've spent all the money...