Free Headline Alerts     
Worldwide Web WorldTribune.com
Front Cover
Daily Brief
  • Obama opts for engagement over Iran opposition as unrest grows
  • Turkey's tilt toward Iran and Syria causing Israel to reassess ties
    • Recent Hits
    Real Times News
    Opportunities
    Take a Stand
    Letters
    Archives
    Blog Line
    World Links
    Population Clock
    Cartoon
    Greatest Hits
    Gertz File
    Advertising Info
    Editorial Board
    Advisory Board
    Contact Info
    What Rush Said
  • Spy agency: Cyber attacks traced to N. Korea’s telecommunications ministry
  • China said to use service agency to conduct intelligence against embassies

    •   breaking... 


    Friday, May 2, 2008

    Iran stops selling oil for dollars, urges neighbors to follow suit

    NICOSIA — Iran has halted crude oil sales in U.S. dollars.

    Iran is the second largest producer in OPEC. Teheran has been pressuring Saudi Arabia and other OPEC members to end their sales solely on the U.S. dollar, and instead rely on a basket of currencies.

    Officials said Teheran significantly reduced conducting oil sales in dollars in 2007, Middle East Newsline reporte. They said by early 2008 Iran demands that consumers pay for oil in euros or Japanese yen.

    Also In This Edition

    NORTHEAST ASIA:

    South Korean growth at seven-year high

    Mideast / S. Asia:

    Israel: commandos seize Hizbullah-bound arms ship

    AFRICA/EUROPE:

    Nigeria signs $875 million railway deal with China

    "The dollar has totally been removed from Iran's oil transactions," Hojjatollah Ghanimifard, an official at the Iranian Oil Ministry, said. "We have agreed with all of our crude oil customers to do our transactions in non-dollar currencies."

    Kuwait, the only Gulf Cooperation Council state, has already dropped its peg to the dollar. Other GCC states blame inflation on the dollar peg.

    About Us     l    Contact Us     l    Geostrategy-Direct.com     l    East-Asia-Intel.com
    Copyright © 2008    East West Services, Inc.    All rights reserved.