Tehran Again Attacks Petrodollar System

Excerpt from Caspian Investor by Kent F. Moors, Ph.D.



Sources in both Tehran and Europe are telling Caspian Investor that Iran is renewing its attack on dollar-denominated oil trade. The move is hardly new. Tehran is introducing its own oil exchange and new benchmark sour crude rate, neither of which is to designate sales in dollars. Current Iranian requirements prevent any purchase of its oil or natural gas with dollars, and some of these restrictions have begun to affect a few secondary trades and swaps in oil contracts through Dubai.



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