Market Unfazed By Iraq Demand For Oil Payment In Euros
NEWS
BAGHDAD -- Iraq’s demand to be paid in euros rather than dollars for oil is unlikely to have much long-term impact on boosting the flagging single European currency, traders and analysts said last week.
They were responding to last Monday’s United Nations Security Council announcement that Iraq could be paid for future oil supplies in euros. Iraq had requested the currency switch from the UN, which monitors the Iraqi sanctions.
Iraq has opened an account with Banque Nationale de Paris in New York
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