 |
PM |  | |
Quote | | |
Reply | | |
Full Topic | |
| Joined: | Mon Nov 21st, 2005 |
| Location: | California USA |
| Posts: | 6399 |
| Status: |
Offline
|
| Mana: |    |
Oil and petrochemical products will be traded in Iranian Rials, as well as all other hard currencies, the statement quoted Iranian Oil Minister Gholam Hossein Nozari as saying. About 20 brokers are already active in the market, it said.
"The bourse provides an economic opportunity for Iranians, other countries and foreign customers," Nozari was quoted as saying.
Iran produces more than 20 million tons of petrochemical products per year.
Iran has already registered for another oil bourse, in which it has said it hopes to trade oil in Euros instead of dollars, to reduce any American influence over the Islamic Republic's economy.