Media: Iran prefers to trade oil in euros rather than dollars

Media: Iran prefers to trade oil in euros rather than dollars

Iran intends to stop trading in dollars and use the euro at the exchange rate at the time of conclusions of contracts for oil supply, Reuters reports with reference to an informed source in the National Iranian Oil Company (NIOC).

The Islamic Republic also intends to receive frozen funds in foreign accounts amounting to more than $100 million in the European currency.

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