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EU to switch from dollars to euros when buying Iranian oil

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Staff Writer | May 16, 2018
Iranian oil euros
Trade war   The EU against the U.S.

The European Union is planning to switch from U.S. dollars to euros when paying for the oil supplies from Iran, a diplomatic source said.

On May 15, EU foreign policy chief Federica Mogherini said that after talks with the foreign ministers of the United Kingdom, France, Germany, and Iran in Brussels that the sides had agreed to work out practical solutions in response to the U.S. withdrawal from the JCPOA, within the next few weeks.

In particular, the European Union and Iran would maintain and deepen economic ties, including in the area of oil and gas supplies, Sputnik recalls.

On May 8, U.S. President Donald Trump announced his decision to withdraw the United States from the JCPOA, also known as the Iran nuclear deal. He also vowed to reinstate the sanctions against Iran that were lifted as a result of the agreement.


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