Iranian carrier abandons U.S. dollars for euros
State-owned ocean carrier Islamic Republic of Iran Shipping Lines (IRISL) said it will switch from U.S. dollars to euros for foreign transactions, according to a news report in today’s Washington Post.
“All invoices for the shipment of commodities are now issued in euros,” the Post reported, citing a comment made by an executive with the Iranian carrier.
The paper added that Iranian President Mahmoud Ahmadinejad recently called on state-owned companies to significantly reduce their use of U.S.-dollar transactions.