BinaryGirl
The Force is Strong With This One
I saw this article this morning and confirmed it later with 95 similar stories as per Google News:
_http://www.cbsnews.com/stories/2008/04/30/business/main4057490.shtml
Iran Ends Oil Transactions In U.S. Dollars
(AP) Iran, OPEC's second-largest producer, has completely stopped conducting oil transactions in U.S. dollars, a top Oil Ministry official said Wednesday, a concerted attempt to reduce reliance on Washington at a time of tension over Tehran's nuclear program and suspected involvement in Iraq.
Iran has dramatically reduced dependence on the dollar over the past year in the face of increasing U.S. pressure on its financial system and the fall in the value of the American currency.
Oil is priced in U.S. dollars on the world market, and the currency's depreciation has concerned producers because it has contributed to rising crude prices and eroded the value of their dollar reserves.
"The dollar has totally been removed from Iran's oil transactions," Oil Ministry official Hojjatollah Ghanimifard told state-run television Wednesday. "We have agreed with all of our crude oil customers to do our transactions in non-dollar currencies."
Iranian President Mahmoud Ahmadinejad called the depreciating dollar a "worthless piece of paper" at a rare summit last year in Saudi Arabia attended by state leaders from the Organization of Petroleum Exporting Countries.
Iran put pressure on other OPEC countries at the meeting to price oil in a basket of currencies, but it has not been able to generate support from fellow members — many of whom, including Saudi Arabia, are staunch U.S. allies.
Iran has a tense relationship with the U.S., which has accused Tehran of using its nuclear program as a cover for weapons development and providing support to Shiite militants in Iraq that are killing American troops. Iran has denied the allegations.
Iranian oil officials have said previously that they were shifting oil sales out of the dollar into other currencies, but Ghanimifard indicated Wednesday that all of Iran's oil transactions were now conducted in either euros or yen.
"In Europe, Iran's oil is sold in euros, but both euros and yen are paid for Iranian crude in Asia," said Ghanimifard.
Iran's central bank has also been reducing its foreign reserves denominated in U.S. dollars, motivated by the falling value of the greenback and U.S. attempts to make it difficult for Iran to conduct dollar transactions.
U.S. banks are prohibited from conducting business directly with Iran, and many European banks have curbed their dealings with the country over the past year under pressure from Washington.
However, the U.S. has been wary of targeting Iran's oil industry directly, apparently worried that such a move could drive up crude prices that are already at record levels.
Iranian analysts say Tehran can withstand U.S. pressure as long as it can continue its oil and gas sales, which constitute most of the country's US$80 billion in exports.
_http://news.google.com/news?hl=en&q=iran+opec+euro+&btnG=Search
Please someone tell me that I'm just being paranoid because I'm having a very hard time seeing this as anything but a catalyst for a war against Iran; which would have such a devastating impact on the US and the globe that we the people would be under serious and imminent economic and social danger from all fronts. I don't think I need to reiterate the constant drumbeat for war against Iran by Washington and Tel Aviv that would have dire consequences for everyone on earth. I'm still under the impression that this was one of the major catalysts for going to war against Iraq and that only by the grace of some sane, non-psychopathic people in US intelligence agencies that we have averted war so far.
Russian FM warns military action on Iran 'disastrous'
_http://afp.google.com/article/ALeqM5hTvtSNN2PiGCCkwQkTl6-HXd4SJA
Putin promises Iran continuity in relations
_http://news.yahoo.com/s/nm/20080430/wl_nm/russia_iran_putin_dc
"Hostile" Iran Sparks U.S. Attack Plan
_http://www.cbsnews.com/stories/2008/04/29/eveningnews/main4056941.shtml
I have to stop because I see nothing good from any of this. I think that there is enough of a volume people on this planet who will actively resist this war to cause commotion on a grand scale (although that could pose to be a catalyst for another problem in of itself). On KPFK (Los Angeles Pacifica Radio) the other day they were talking a lot about the ILWU longshoreman workers strike that is to take place tomorrow. I really hope that that will be successful due to the economic impact that it will likely have to business.
_http://www.labornet.org/news/0000/nopaz.htm
_http://www.indybay.org/newsitems/2008/03/01/18482849.php
Maybe I just need to vent but what's everyone's opinion on this? I'm really concerned about this development.
-Binary
_http://www.cbsnews.com/stories/2008/04/30/business/main4057490.shtml
Iran Ends Oil Transactions In U.S. Dollars
(AP) Iran, OPEC's second-largest producer, has completely stopped conducting oil transactions in U.S. dollars, a top Oil Ministry official said Wednesday, a concerted attempt to reduce reliance on Washington at a time of tension over Tehran's nuclear program and suspected involvement in Iraq.
Iran has dramatically reduced dependence on the dollar over the past year in the face of increasing U.S. pressure on its financial system and the fall in the value of the American currency.
Oil is priced in U.S. dollars on the world market, and the currency's depreciation has concerned producers because it has contributed to rising crude prices and eroded the value of their dollar reserves.
"The dollar has totally been removed from Iran's oil transactions," Oil Ministry official Hojjatollah Ghanimifard told state-run television Wednesday. "We have agreed with all of our crude oil customers to do our transactions in non-dollar currencies."
Iranian President Mahmoud Ahmadinejad called the depreciating dollar a "worthless piece of paper" at a rare summit last year in Saudi Arabia attended by state leaders from the Organization of Petroleum Exporting Countries.
Iran put pressure on other OPEC countries at the meeting to price oil in a basket of currencies, but it has not been able to generate support from fellow members — many of whom, including Saudi Arabia, are staunch U.S. allies.
Iran has a tense relationship with the U.S., which has accused Tehran of using its nuclear program as a cover for weapons development and providing support to Shiite militants in Iraq that are killing American troops. Iran has denied the allegations.
Iranian oil officials have said previously that they were shifting oil sales out of the dollar into other currencies, but Ghanimifard indicated Wednesday that all of Iran's oil transactions were now conducted in either euros or yen.
"In Europe, Iran's oil is sold in euros, but both euros and yen are paid for Iranian crude in Asia," said Ghanimifard.
Iran's central bank has also been reducing its foreign reserves denominated in U.S. dollars, motivated by the falling value of the greenback and U.S. attempts to make it difficult for Iran to conduct dollar transactions.
U.S. banks are prohibited from conducting business directly with Iran, and many European banks have curbed their dealings with the country over the past year under pressure from Washington.
However, the U.S. has been wary of targeting Iran's oil industry directly, apparently worried that such a move could drive up crude prices that are already at record levels.
Iranian analysts say Tehran can withstand U.S. pressure as long as it can continue its oil and gas sales, which constitute most of the country's US$80 billion in exports.
_http://news.google.com/news?hl=en&q=iran+opec+euro+&btnG=Search
Please someone tell me that I'm just being paranoid because I'm having a very hard time seeing this as anything but a catalyst for a war against Iran; which would have such a devastating impact on the US and the globe that we the people would be under serious and imminent economic and social danger from all fronts. I don't think I need to reiterate the constant drumbeat for war against Iran by Washington and Tel Aviv that would have dire consequences for everyone on earth. I'm still under the impression that this was one of the major catalysts for going to war against Iraq and that only by the grace of some sane, non-psychopathic people in US intelligence agencies that we have averted war so far.
Russian FM warns military action on Iran 'disastrous'
_http://afp.google.com/article/ALeqM5hTvtSNN2PiGCCkwQkTl6-HXd4SJA
Putin promises Iran continuity in relations
_http://news.yahoo.com/s/nm/20080430/wl_nm/russia_iran_putin_dc
"Hostile" Iran Sparks U.S. Attack Plan
_http://www.cbsnews.com/stories/2008/04/29/eveningnews/main4056941.shtml
I have to stop because I see nothing good from any of this. I think that there is enough of a volume people on this planet who will actively resist this war to cause commotion on a grand scale (although that could pose to be a catalyst for another problem in of itself). On KPFK (Los Angeles Pacifica Radio) the other day they were talking a lot about the ILWU longshoreman workers strike that is to take place tomorrow. I really hope that that will be successful due to the economic impact that it will likely have to business.
_http://www.labornet.org/news/0000/nopaz.htm
_http://www.indybay.org/newsitems/2008/03/01/18482849.php
Maybe I just need to vent but what's everyone's opinion on this? I'm really concerned about this development.
-Binary