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Timothy Alexander Guzman – Currency War Escalation: Iran Wants Euros Instead of US Dollars for Oil Payments

Washington must be getting nervous with the latest announcement from Iran’s state-owned oil company, the National Iranian Oil CO (NIOC) which declared that Iran will replace US dollars with Euros for its oil trades according to a Reuter’s news article titled ‘Exclusive: Iran wants euro payment for new and outstanding oil sales – source’. Iran wants something (well almost anything) to bypass the US dollar with other currencies because of Washington’s willingness to impose sanctions whenever it wants on the Iranian republic.

“Iran wants to recover tens of billions of dollars it is owed by India and other buyers of its oil in euros and is billing new crude sales in euros, too, looking to reduce its dependence on the U.S. dollar following last month’s sanctions relief” the report said. Watch for AIPAC’s “bought and paid for” politicians in Washington call for more sanctions on Iran because they will find something to blame the Iranian government even global warming if they can get away with it. Reuters said:

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