6 February 2016 - 15:43
  • News ID: 254725
Iran Favors Euro for Oil Payments: Official

TEHRAN, Feb. 6 (Shana) – Deputy director of International Affairs for Marketing and Crude Oil Operation in the National Iranian Oil Co said that Iran gives the priority to the European single currency euro as payment means of its oil export contracts.

“Our top priority is to receive cash and oil demands in euro,” Safar-Ali Karamati told Shana in the wake of removal of sanctions on oil exports and lifting the ban on banking transactions.

Asked whether Iran still prefers its oil payments to be in euros under the new contracts with foreign companies, he replied, “It depends on the mutual agreement. But NIOC would rather euro.”

He said NIOC has several options for receiving payments in reliable foreign currencies and added, “Because of their single monetary unit, European customers have no problem to pay for crude oil deals in euro.”

News ID 254725

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