1 January 2011, 20:13

India to drop US buck in Iran oil dealing

India to drop US buck in Iran oil dealing

India may drop the US dollar as payment for oil from Iran. The replacement would be the Japanese yen and the Emirates dirham. According to London’s Asharq Al-Awsat, the switch could help India avoid American retaliation for dealing with the Iranians.

India may drop the US dollar as payment for oil from Iran. The replacement would be the Japanese yen and the Emirates dirham.

According to London’s Asharq Al-Awsat, the switch could help India avoid American retaliation for dealing with the Iranians.

Iran is under international sanctions for refusing to come clean on the nature of its nuclear energy programme. The United States has unilaterally imposed some extra sanctions.

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