Syria selling oil in euros
13 Feb 2006 He said the switch would mean euro pricing for crude oil sales, a major foreign currency earner for Syria. The latest official figures show Syria 7 Oct 2009 According to some accounts, Iraq's decision to price its oil in euros Even if all oil were sold for dollars, it would be a very small factor in the 8 Sep 2013 There are two countries that don't sell their oil in the dollar: Syria, and Iran. If these two In 2001, Iraq began selling their oil in the Euro. 13 Feb 2019 group to work on promoting the euro and fighting the monopoly of the U.S. dollar in oil and commodities trading, reflecting broader tensions 7 May 2019 EU Trade relations with Syria. is currently suspended as regards trade in crude oil, petroleum products, gold, precious metals and diamonds. Syria is one of the partners of the Euro-Mediterranean Partnership (Euromed). If Oil gets drained out in the middle East, where will countries importing oil from a different route which was not in dollar(it was Euros which was then converted to China´s, Russia´s, Syria´s War on the Petrodollar: US Threatening WWIII in “A switch to euros for oil trading will not happen in my lifetime. Governments can make any statements they want, but that's commerce.” – Bruce Misamore, chief
After 1958, English has been used on the reverses, hence the three different names for this currency. Coins used both Arabic and French until independence, then only Arabic. On 5 December 2005, the selling rate quoted by the Commercial Bank of Syria was 48.4 SYP to the US dollar. A rate of about 50 pounds to one dollar was usual in the early
8 Aug 2005 Saddam Hussein in 2000 insisted Iraq's oil be sold for euros, a political are updating plans for possible U.S. military action in Syria and Iran. 22 Mar 2013 Saddam Hussein was about to begin selling oil using the EU attack on the integrity of the dollar as a reserve currency by selling oil in Euros. On Friday the euro had reached $1.08, up 30 per cent from that time. Almost all of Iraq's oil exports under the United Nations oil-for-food programme have been paid in euros since 2001. In November 2000, Iraq began selling its oil in euros. Iraq's oil for food account at the UN was also in euros and Iraq later converted its $10 billion reserve fund at the UN to euros. Several other oil producing countries have also agreed to sell oil in euros-Iran, Libya, Venezuela, Russia, Indonesia, and Malaysia (soon to join this group). In November 2000, Iraq began selling its oil for euros, moving away from the post-World War II standard of the US dollar as the currency of international trade. Whilst seen by many at the time as a bizarre act of political defiance, it has proved beneficial for Iraq, with the euro gaining almost 25% against the dollar during 2001. Currently, oil is priced at about $70 a barrel. A dollar today is worth about 90 yen. A bushel of wheat sells for about $3.50. If oil were priced in yen, then the current price of a barrel of oil in yen would 6,300 yen. If oil were priced in wheat, then the price of a barrel of oil would be 20 bushels.
Reuters has reported that Iran is requesting euros for all new and outstanding oil payments. Another nail in the dollar's coffin:. A source at state-owned National Iranian Oil Co (NIOC) told Reuters that Iran will charge in euros for its recently signed oil contracts with firms including French oil and gas major Total (), Spanish refiner Cepsa CPF.GQ and Litasco, the trading arm of Russia's
Syria is scrambling to find foreign buyers for its oil because of the tightening grip of a European embargo that has severely impeded Syrian oil sales, a vital source of earnings for Damascus. Syria's current government is composed of Shia Muslims. The Shias (also called the Shiites) hate the Sunnis, and vice versa. It is like Catholics and Protestants many years ago. Saudi Arabia wants us to swing Syria's civil war in the favor of the Sunni rebels. Saudi Arabia does have enough oil to worry about, and the Saudis control OPEC. Reuters has reported that Iran is requesting euros for all new and outstanding oil payments. Another nail in the dollar's coffin:. A source at state-owned National Iranian Oil Co (NIOC) told Reuters that Iran will charge in euros for its recently signed oil contracts with firms including French oil and gas major Total (), Spanish refiner Cepsa CPF.GQ and Litasco, the trading arm of Russia's News > World > Middle East Iran to stop using US dollar in response to Donald Trump's 'Muslim ban' Central Bank decision fraught with risk for Iran’s oil revenues, analysts say Baghdad's switch from the dollar to the euro for oil trading is intended to rebuke Washington's hard-line on sanctions and to encourage Europeans to challenge it. But the political message will cos This underpinned its reserve currency status through the need for foreign governments to hold dollars; recirculated the dollar costs of oil back into the U.S. financial system and -- crucially -- made the dollar effectively convertible into barrels of oil. The dollar was moved from a gold standard onto a crude oil standard.
If Oil gets drained out in the middle East, where will countries importing oil from a different route which was not in dollar(it was Euros which was then converted to China´s, Russia´s, Syria´s War on the Petrodollar: US Threatening WWIII in
Europe's dream of promoting the euro as a competitor to the U.S. dollar may get a boost from SADDAM HUSSEIN. Iraq says that from now on, it wants payments for its oil in euros, despite the fact that the battered European currency unit, which used to be worth quite a bit more than $1, has dropped to about 82[cents]. The Iraqi government controls exports of crude from the country and has tried to restrict traders from re-selling its oil. in selling oil to Syria. 375 million euros from Al Jazerra
Europe's dream of promoting the euro as a competitor to the U.S. dollar may get a boost from SADDAM HUSSEIN. Iraq says that from now on, it wants payments for its oil in euros, despite the fact that the battered European currency unit, which used to be worth quite a bit more than $1, has dropped to about 82[cents].
The SPV is a kind of clearing house that could be used to help match Iranian oil and gas exports against purchases of EU goods in an effective barter arrangement circumventing U.S. sanctions
8 Aug 2005 Saddam Hussein in 2000 insisted Iraq's oil be sold for euros, a political are updating plans for possible U.S. military action in Syria and Iran. 22 Mar 2013 Saddam Hussein was about to begin selling oil using the EU attack on the integrity of the dollar as a reserve currency by selling oil in Euros.