EU to Buy Iranian Oil in Euros

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Feature Article by Stephen Lendman
EU to Buy Iranian Oil in Euros?

by Stephen Lendman (stephenlendman.org – Home – Stephen Lendman)

China is the world's largest oil importing/consuming nation. Trading on the Shanghai International Energy Exchange since March, its petro-yuan poses the first ever challenge to petro-dollar dominance.

Will an EU petro-euro be a petro-dollar challenge too great to overcome? Will US sanctioned nations and their trading partners weaken dollar dominance by bypassing it in trade entirely?

China is shaking up the oil futures market at the expense of the dollar. Will the EU go the same way, freeing itself from observing US sanctions at the expense of its own interests?

Will the petro-yuan and a petro-euro, if introduced, prove game-changing longer-term?

The dollar as the world's reserve currency remains dominant. Are its dominant days numbered?

Will Trump's JCPOA withdrawal weaken dollar dominance? Iran's trading partners have 90 day
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