Iran Planning to Stop Using U.S. Dollar to Price Oil

Iran is planning to stop using the U.S. dollar to price oil, with less than half of its oil income now paid in the U.S. currency, Iran’s central bank governor said.

“That’s the plan for the future, we are working on that,” Governor Ebrahim Sheibany said in an interview with Zawya Dow Jones News Service late Tuesday when asked if Iran was planning to stop pricing oil in dollars. He was speaking on the sidelines of an Islamic finance forum in Kuala Lumpur, Malaysia’s largest city.

IHT