Iranian Oil Importers Can Pay in Gold: Central Banker
Type
E-journal
Date
1 Mar 2012
Jurisdiction
Iran
Taxonomy
Supply of Services, Payment & Payment Systems, Oil & Petroleum
Copyright
LexisNexis
Analysis
The Governor of the Iranian Central Bank, Mahmoud Bahmani, has said that Iran will accept both gold and importing countries' national currencies as payment for its oil
Iran's move is part of its efforts to move away from the dollar payment system.
The US has applied sanctions on entities that trade with Iran. It also successfully pressured Belgium's SWIFT, owner of the SWIFT system, to refrain from doing business with Iranian banks.