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Iran Dumps Petrodollar, Wants Euros for All Oil Sales

The war against the dollar continues

By Rudy Panko

February 08, 2016 "Information Clearing House" - "RI" -  Reuters has reported that Iran is requesting euros for all new and outstanding oil payments. Another nail in the dollar's coffin:

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.

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