Russian expert says oil dealings in Iranian Oil Exchange Market soon

Head of Iran Contemporary Studies Center in Russia Rajab Safarov says in the coming months, Iran wants to privatize its oil companies, whose number is no more than 40, and start oil deals in Iran’s Oil Exchange Market.

Safarov told Moscow-based daily Vermianovesti that Iran’s Oil Exchange is a crucial body that is expected to leave a drastic impact on the world oil market.


He said in the market, oil dealings will be based on euro or Iranian rial.

He added that experts believe some European middlemen in the Exchange Market are mulling formation of conglomerate companies with the Iranian ones to prepare the ground for being presented in the Iranian Oil Exchange market.

Pointing to Iran’s significant position among the oil producing states, Safarov said Iran sells dlrs 70 billion worth crude annually and if the volume of dollar is omitted from the world economy, the US currency will receive a tangible blow.

IRNA