Dumping the dollar. The trend away from the ailing currency continues as Tehran seeks payment for its oil in Euros

Iran wants key customers to pay for its oil in euros rather than dollars according to Reuters. The government in Tehran is also determined to receive any money that has been owed to it since the imposition of sanctions in Euros.

Soon Iran will resume making deliveries of crude oil, with companies such the 
Spanish refiners Cepsa and Litascoas, the French Total and Russia’s Lukoil having already signed contracts. According to a source at the state-owned National Iranian Oil Co (NIOC), Tehran wants to receive payment in euros (Reuters).

“In our invoices we mention a clause that buyers of our oil will have to pay in euros, considering the exchange rate versus the dollar around the time of delivery,” the source is reported to have said.
There is is also the matter of billions of dollars worth of assets that were frozen under the sanctions: when they are released, Tehran also wants these paid in euros, according to another source. It is estimated that Iran has an estimated $100 billion in assets frozen and around half of these would be unfrozen under the forthcoming sanctions relief.

Iranian dislike of the American currency goes back a long way. It is the role played by the dollar in the oil trade that is one of the key factors in its privileged status as the world's leading currency. That privileged status in turn helps bolster and hold in place American economic influence around the globe, despite its economic decline, uncompetitiveness and bankruptcy.


In 2007, Tehran unsuccessfully campaigned at OPEC to switch from the dollar but now a number of economic powerhouses - among which are Russia and China - are combining in new alliances that will trade in their own currencies, effectively sidelining the ailing dollar and considerably, perhaps fatally, weakening America's global leverage.

Iran's effort to distance itself from or move out from under the dollar is mirrored by Russia, which has been working towards eliminating the US currency from domestic trade and signing deals with its key foreign trading partners in national currencies. Among these is China, the world's most productive economy, which has begun to insist on trading in the Yuan.

Sanctions against Iranian oil and its banking industry were imposed by the US and some of its vassal states - most importantly the UK and EU - over unsubstantiated allegations that Tehran was secretly trying to build a nuclear weapon. 

Iran denied the allegations, insisting that its nuclear activities were for civilian purposes. The United States never produced any proof to back up its allegations and many considered that the accusations were concocted as a political move against Iran rather than being driven by any substantial concerns that she was building a nuclear weapon for real.

Nevertheless in 2015, Iran and six leading world powers reached an agreement. Under the terms of the agreement, Iran made its nuclear program more transparent and accepted the imposition of safeguards. 

The matter settled, in exchange the US and EU will lift the economic and nuclear-related sanctions.

The impending loss of leverage occasioned by a global trend away from the mortally wounded dollar are believed to have instilled a sense of panic sweeping through the corridors of power in Washington. 

America, in short, is in serious trouble and the warmongers and somewhat unhinged neocons in power on Capitol Hill are facing the prospect that the gig is up - or soon will be.

With that comes the very real danger that the American people will at last wake up to just how much they have been conned, used and bled dry by what is little more than an international crime syndicate at the head of which sits the Rothschild bankster mafia.

That panic may account for the apparently insane urge to get war started with Russia in Europe and with a Russian-Chinese-Iranian alliance in the Middle East for no good reason - aside from the now customary propaganda ploy of making wild and scary accusations without proof - as their "only chance" to save their bacon.

Russia, China and Iran are of course no angels and doubtless have ambitions of their own but quite how America, already bankrupt and indebted for generations to come, is expected to be able to afford, let alone win, a war with more than half the entire planet backed by a few vassal states that will ditch her at the first opportunity is unclear. 

It is also unclear how the US tax payer will be able to support a further dramatic escalation of military spending that already consumes half the nation's economy like a ravenous parasite.

Having said that Iran, Russia and China are no angels, I should qualify that a little bit by pointing out whilst they, like the US and other warlike nations, are still essentially barbarisms with much still to do before they can be considered civilised, they have not yet demonstrated anything like the belligerence of elite criminals running the US and other similarly subverted states.

While America has seven hundred or more military bases (that we know about) on foreign soil worldwide and spends more on war than all other nations combined, Russia has - I believe - no more than six (fewer in fact than the UK), China has one and not only does Iran have none, she has not attacked another nation for about three hundred years.