the beginning of the end of the petro-dollar?
“About 70 per cent of our oil export income is now in currencies other than the US dollar,” Hojjatollah Ghanimifard, international affairs director of the state-owned National Iranian Oil Company (NIOC), said.
“If the dollar gets weaker, we will increase that percentage,” said Ghanimifard, who in March had cited a figure of 60 per cent for Iran’s oil export income in other currencies.
Iranian officials have said they are seeking to limit dollar-denominated trade. The central bank governor has said Iran was seeking to “distance” itself from dollars and held just 20 per cent of its foreign reserves in the US currency.