Iran says gets 90% of oil income in euros, yen

TEHRAN, Dec 23 (Reuters) – Iran has boosted oil export earnings in non-U.S. dollar currencies to 90 percent, a senior official said on Sunday, making clear the world’s fourth-largest crude exporter would continue to reduce its dollar exposure.

Iran, embroiled in a standoff with the West over its nuclear programme, has for two years been increasing its sales of oil for currencies other than the dollar, saying the weak U.S. unit is eroding its purchasing power.


“Currently about 70 percent of Iran’s crude oil exports earnings are in euros and 20 percent in yen,” said Mohammad Ali Khatibi, deputy director of international affairs at the state National Iranian Oil Company.

“About 10 percent … remains in dollars which is going to be replaced with other currencies,” Khatibi was quoted as saying by the Web site of Iranian state television.

Reuters