Iran ‘to accept payment in gold for oil’

February 29, 2012 05:34

Crude oil is predominantly traded in US dollars, but Iran already accepts payment in other currencies. – BBC


BBC News

“The move comes as US and European Union sanctions against Iran have made it difficult for buyers to make dollar payments to Iranian banks.

Mahmoud Bahmani, the governor of Iran’s central bank, is reported to have said that the country would accept payment in gold “without any reservation”.”

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