Still no oil bourse
Tuesday, 21. March 2006, 12:53:23
Iran denied Monday media reports that it was to open a euro-based oil exchange.
"We have no information on opening an oil exchange in the free economic zone on Kish Island [southern Iran]"....
The exact date of the oil exchange opening on Kish Island is still unknown.
Some media reported Monday that oil would be traded exclusively in the European currency at the Iranian exchange.
Experts said the transition to euro from dollar in payments for oil could cause a default of the U.S. currency. All oil deals are currently made in dollars, allowing Washington to maintain permanent demand for the national currency.
"We have no information on opening an oil exchange in the free economic zone on Kish Island [southern Iran]"....
The exact date of the oil exchange opening on Kish Island is still unknown.
Some media reported Monday that oil would be traded exclusively in the European currency at the Iranian exchange.
Experts said the transition to euro from dollar in payments for oil could cause a default of the U.S. currency. All oil deals are currently made in dollars, allowing Washington to maintain permanent demand for the national currency.
WIDGETIZE