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Iran plans to phase out dollar, euro in foreign trade: Econ. min.

 
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01/15/2013 12:09 AM

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Iran plans to phase out dollar, euro in foreign trade: Econ. min.
Iraq wanted to be free of the dollar...look what happened

Libya wanted to liberate Afica with the gold dinar...look what happened


Mali has gold and Africa has gold ...look whats happening...





Iran's Minister of Economic Affairs and Finance Shamseddin Hosseini says the country plans to phase out dollar and euro in its future international transactions after the US and the European Union (EU) imposed sanctions on Iran.


“[Iranian] government has made up its mind to phase out vehicle currencies such as dollar and euro in its [foreign] trade,” Hosseini told reporters on the sidelines of the first meeting of the heads of Economic Cooperation Organization’s tax organizations in Tehran on Monday.

He added that after the imposition of sanctions on Iran by the US and the EU, the Central Bank of Iran (CBI) immediately moved to change the country's hard currencies reserves into euro and gold which “was beneficial to the country.”

The Iranian minister noted that a change in trade model would reduce the country’s need to vehicle currencies, including dollar and euro.


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