EU Could Switch To Euros In Oil Trade With Iran

Oil tanker

 

The European Union (EU) is considering switching to euros instead of U.S. dollars in the oil trade with Iran, Sputnik reported on Wednesday, quoting a diplomatic source.

Iran, for its part, said as early as in mid-April that it would be switching to euros from U.S. dollars in reporting foreign currency amounts, to reduce the reliance on the dollar as it was expected that President Trump would not waive the sanctions this time around.

The EU vowed on Tuesday to seek ways to work and trade with Iran. Continue reading