Saturday, July 17, 2010

Iran May Dump the Euro for the UAE Dirham

Via Jamie Coleman:

Reuters picks up a story that first appeared in the International Oil Daily, an industry newsletter:

Iran is considering switching oil payments from Europe to UAE dirham for the euro.

Part of the move may be to avoid EU sanctions that could freeze euro payments. Part may also have something to do with Iran blowing smoke at the market they way they did a few months ago when they said they were considering dumping the euro for the dollar.

1 comment:

  1. This is slightly funny since the Dirham is indexed to the US Dollar.