About 70% of Iran oil income in non-U.S. dollar

TEHRAN (Reuters) –
Iran, embroiled in a row with Washington over its nuclear program, has increased the amount of its oil export earnings in currencies other than U.S. dollars to about 70 percent, an Iranian official said on Saturday.

The figure is up from 60 percent cited in March for Iran’s non-dollar oil export income and reflects the No. 2
OPEC producer’s policy of reducing exposure to the greenback.

“About 70 percent of our oil export income is now in currencies other than the U.S. dollar,” Hojjatollah Ghanimifard, international affairs director of the state-owned National Iranian Oil Company (NIOC), told Reuters.

“If the dollar gets weaker, we will increase that percentage,” said Ghanimifard, who in March had cited a figure of 60 percent for Iran’s oil export income in other currencies.

Reuters