Wednesday, November 21, 2007

Iran virtually free of U.S. dollar in oil revenues

"This is an economic decision and we've been proven right. Over time the dollar has got weaker and weaker," Hojjatollah Ghanimifard, international affairs director of the state owned National Iranian Oil Company (NIOC) told Reuters. "On a macro-economic level, nearly all of Iran's crude oil sales are now being paid for in non U.S. currencies."

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