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    Unnecessary for Iran to Work in US Dollars Amid European Financial Options

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    Iran does not need to do business in US dollars when it has the ability to work with European financial mechanisms, President Barack Obama said in a speech at the close of the Nuclear Security Summit in Washington, DC.

    WASHINGTON (Sputnik) — Earlier on Friday, the Wall Street Journal reported, citing US government officials, the Obama administration might allow the Iranians to do business in US dollars because the nuclear agreement reached last July was not providing economic benefits Tehran had expected.

    "It is not necessary that we [the United States] take the approach of them [Iran] going through dollar denominated transactions," Obama stated on Friday. "It is possible for them to work through European financial institutions as well."

    Obama noted that the United States and other P5+1 countries involved in negotiating the nuclear deal with Iran will take steps to provide clarity to businesses about what transactions they are allowed to conduct with Tehran.

    It might take several months, Obama added, for companies to feel confident that there are no major risks in doing business with Iran.

    The United States, the president claimed, will work with the Iranians to address their financial concerns related to the nuclear deal.

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    dollars, P5+1, Barack Obama, United States, Iran
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