Iran General NewsIran fails to get OPEC mention of weak dollar

Iran fails to get OPEC mention of weak dollar

-

AFP: OPEC’s final summit declaration on Sunday made no mention of the weak dollar, with a plan to increase financial cooperation between members the only recognition of an Iranian proposal to price oil in other currencies. RIYADH (AFP) — OPEC’s final summit declaration on Sunday made no mention of the weak dollar, with a plan to increase financial cooperation between members the only recognition of an Iranian proposal to price oil in other currencies.

OPEC would “study ways to increase financial cooperation between OPEC member countries, including a proposal by some heads of state,” said OPEC Secretary General Abdullah al-Badri without giving details on the proposal.

Iran had pushed for OPEC to take collective action to price oil in other currencies such as the euro, instead of the US currency, which is used across the world at present.

The fall of the dollar, which has weakened considerably against the euro and other currencies in the past 12 months, has affected the revenues of OPEC members because most of them price and sell their oil exports in the US currency.

The issue is also political, with US arch-foe Iran keen to undermine the US currency.

Latest news

 Statistics show that New Year accidents’ deaths in Iran reached 585

Ahmad Shirani, the head of the Information and Traffic Control Center of the Iranian regime’s police, announced that the...

Land Subsidence in Critical Conditions in Isfahan

Mehdi Toghyani, a member of the Iranian regime’s Majlis (parliament), pointed to the occurrence of land subsidence in various...

Iran’s Actual Inflation Rate Higher Than Official Stats

The state-run Donya-e-eqtesad newspaper, in a report analyzing the "general sentiment" regarding inflation in 2023, has stated that households...

Iranian Workers’ Monthly $136 Wages Can’t Cover $500 Expenses

The lives of a significant portion of the Iranian population are marked by uncertainty, largely because the Iranian economy...

Iranian Nurses Earn Twice Their Wages in Ride-Hailing Services

Reza Aryanpour, a member of the regime’s Majlis (parliament) Health and Treatment Commission, highlighted the growing trend of nurses...

Iran: Unprecedented Record of 152 Million Liters of Gasoline Consumption Per Day

On March 19, Iran set a new historical record in gasoline consumption with 152 million liters consumed in one...

Must read

Iran says ready for nuclear talks with world powers

AFP: Iran is ready for talks with world powers...

Iran has foreign exchange reserves of $100 bln, Press TV reports

Bloomberg: Iran’s foreign exchange reserves stand at $100 billion,...

You might also likeRELATED
Recommended to you