Publication Date:
Sat, 2006-05-06 03:00
TEHRAN, Iran, 6 May 2006 — Iran’s Oil Ministry took a step toward establishing an oil trading market denominated in euros, rather than the US dollar, by granting a license for the bourse, state-run television reported yesterday.
Just who would trade on the market wasn’t immediately apparent. Iranian television did not mention traders or governments willing to market or purchase products on the exchange, nor did it say when it would open for business.
“Iran has registered an oil bourse on the island of Kish in which oil would be sold in euros,” the broadcast said. Kish, located off the coast of southern Iran, houses the offices of some 100 Iranian and foreign oil companies.
Main category:
Old Categories: