Iran Asks Japan to Pay Yen for Oil, Start Immediately

July 13 TOKYO: Iran has asked Japanese refiners to pay in yen currency for all crude oil purchases in an apparent attempt to reduce the Middle Eastern country's U.S. dollar holdings, a news report said Saturday.

Iran, in a standoff with the U.S. over its uranium enrichment program, has asked to switch to yen-based transactions immediately, Japan's Kyodo News agency reported, citing an unidentified oil industry official.

Iran has already taken other measures to reduce its dependence on the U.S. currency. Earlier this year, Tehran announced it had begun pulling its foreign currency accounts out of European banks to protect its assets from possible sanctions.

Tokyo has been reducing its Iranian oil imports amid the nuclear standoff. Still, Iran remains Japan's fourth-largest oil supplier, shipping 1.59 million kiloliters (11,130 barrels) of crude in May according to Japan's trade ministry.

Most Japanese refiners pay dollars for the oil they purchase from Iran, according to Kyodo.

From Bloomberg- Iran wants yen-based transactions ``for any/all of your forthcoming Iranian crude oil liftings,'' according to a letter sent to Japanese refiners that was signed by Ali A. Arshi, general manager of crude oil marketing and exports in Tehran at the National Iranian Oil Co. The request is for all shipments ``effective immediately,'' according to the letter, dated July 10

Liberals say Bush went to War with Iraq because Saddam threaten to change the Oil Bourse from Dollars to Euros.

Socialists and Radical Islamics have been pushing for a move away from dollars for Petro purchases for some time now.

The Islamics (And Currency shorter George SOROS?) feel this is the best way they can harm America, and ruin our economy.

The Islamics (And Currency shorter George SOROS?) feel this is the best way they can harm America, and ruin our economy.

If this is really the best idea they can come up with to harm American and "ruin" our economy, I feel pretty good.

Who knows what tomorrow may hold, but thus far we seem to be doing pretty much ok since the Great And Terrible Dollar-To-Yen Switch Of 7/13.

The Islamics (And Currency shorter George SOROS?) feel this is the best way they can harm America, and ruin our economy.

I have a different take on this. Perhaps Iran has a plan to do something explosive in the coming weeks or months to intentionally and substantially devalue US currency?

Earlier this year, Tehran announced it had begun pulling its foreign currency accounts out of European banks to protect its assets from possible sanctions.

Just one of the reasons for the "weakness" of the dollar.

I agree with you.

They said this stuff two years ago:

Commandant of Iran’s elite Islamic Revolutionary Guards Corps, Major General Yahya Rahim Safavi, said on state television. “God willing, the 21st century will see the defeat of the U.S. and the Zionists, and the victory of freedom-seeking nations of the world. The final goal of the [1979] revolution is to create global Islamic rule and a regime of law to be led by the Imam Mahdi”.

The [Iranians] President’s chief strategist, Hassan Abbassi, has come up with a war plan based on the premise that “Britain is the mother of all evils” – the evils being America, Australia, New Zealand, Israel, the Gulf states and even Canada, all of whom are the malign progeny of the British Empire. “We have a strategy drawn up for the destruction of Anglo-Saxon civilization,” says Mr Abbassi. “There are 29 sensitive sites in the U.S. and in the West. We have already spied on these sites and we know how we are going to attack them… Once we have defeated the Anglo-Saxons the rest will run for cover.”

The IRGC chief warned that Iran was seeing through “critical days” and “fate-determining years”. He described the purpose of Iran’s 1979 Islamic revolution as the “Salvation of Muslims” from the hands of the “oppressive U.S. and Israel”.

These jerks realy believe this crap. They may be right to a cretain extent. The Euro/ American average person has no stomach for a prolonged war and for sure will not blowup themselves for their beliefs. It comes down to who has has the most will to sacrifice for their beliefs. The West will fold in the long run. So say the islamist. Time will tell. They have started a 500 year war.

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