Iran stops conducting oil transactions in U.S. dollars

Iran stops conducting oil transactions in U.S. dollars

www.iht.com

Iran, OPEC's second-largest producer, has completely stopped conducting oil transactions in U.S. dollars, a top Oil Ministry official said Wednesday, a concerted attempt to reduce reliance on Washington at a time of tension over Tehran's nuclear program and suspected involvement in Iraq.


Iran has dramatically reduced dependence on the dollar over the past year in the face of increasing U.S. pressure on its financial system and the fall in the value of the American currency.

(visit the link for the full news article)


Related News Links:
www.reuters.com

Things are heating up, we all know or everyone should by now, with the ramp up in Biofuel and the latest food crisis with oil and food skyrocketing, these are all connected.

www.iht.com
(visit the link for the full news article)

reply to post by promomag


....And here it comes. I expect U.S. airstrikes will be happening soon.

Things are just happening too damn fast.....

Didn't Iraq have this planned right before we invaded?

Originally posted by StephenF
Didn't Iraq have this planned right before we invaded?

Yep. It's one of the little-talked-about "real" reasons for our invasion... Saddam was about to dump Iraq's oil on the market and trade it all in Euros, under-cutting OPEC. We didn't invade Iraq to steal their oil, we did it to keep it in the ground and under OPEC control, and to ensure that when the time came to start pumping it again the Big Oil boys (who Saddam planned to cut out of the deal) would have first dibs. We invaded to preserve the virtual monopoly, because God forbid there should be real competition in the oil markets.....

First they ban Barbie and now they dump the dollar. Sorta get the feeling that they dont like the US very much.

That's fine. We don't really need them, or their oil. We have WiFi, and just need a few classes on working and networking with groups from the workplace, and stay home. Think smart.