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Iranian carrier abandons U.S. dollars for euros

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.