View Full Version : Iran's Kish Oil Bourse Begins Oil Transactions In Euro and Dirham

08-19-2011, 08:30 AM
Iran's Kish Oil Bourse Begins Oil Transactions In Euro and Dirham

Friday, 19 August 2011 15:44

Hamsayeh.Net - Iran oil bourse completed its first oil transaction after its official opening earlier this month. The Persian Gulf region's first indigenous oil bourse sold a 500,000 barrels package at $109 and received payments in euro and dirham unlike most other oil transactions which are in US dollar despite all the risks involved.

The move would hopefully boost oil transactions amongst world's leading oil producers in other currencies than US dollar thus reducing unnecessary and dangerous exposures to the US currency from now on. Many leading oil and gas producers plan using other currencies in their mutual trades.

Iran opened its Kish Oil Bourse in order to facilitate energy contracts and also provide ample opportunities for foreign companies active in the energy sector. A base price of $621.35 per ton under Euro and Dirham accounts in overseas banks was set under direct supervision of the Iranian National Oil Company NIOC.

Washington and its allies view establishment of the Kish Oil Bourse to pose a danger to Western energy monopoly in coordination with Western financial establishment , but at the same time unacceptable for nearly all major global energy producers.

Iran's Kish Oil Bourse Begins Oil Transactions In Euro and Dirham (http://hamsayeh.net/world/1077-irans-kish-oil-bourse-begins-oil-transactions-in-euro-and-dirham.html)

Ian Moone
08-19-2011, 12:47 PM
With the current state of USA's economy and being he world exchange currency - they simply cannot afford to allow other nations to trade oil in anything but the $US.

Iran seems set to start up their own nuke power plant in Sept - making them not dependent totally on their own oil for energy.

This will increase their ability to export more of their oil reserves.

The fact that they can sell it outside of the US stock exchange and in funds other than $US, doesn't augur well for the future of the USA

Here in a nutshell is what it does mean!

It threatens USA's military superiority because it allows other nations to control the energy fuel reserves necessary to win wars!

In essence apart from being an economic threat to the USA this si also a military threat - something the USA ,military people will NOT allow to happen.

Thus we will see an attack on Iran sometime this year or early next and it will assuredly lead to WW3.

It is an economic and military imperative for the USA that they cannot ignore.

I am sure that Israel will start it off as a cassus belli for the USA to step in, so that the rest of the world don't blame the USA for starting ww3 - but the truth is - this will come from the USA via their middle east proxy Israel.

The fact that Hugo Chavez has just sought to repatriate all foreign held Brazil Gold back to his country from central banks primarily in London likely means that, they know what is coming and don't want their foreign holdings to become some other nations spoils of war (Russia?)

I would guess this signals the start of preparations by nations the world over - they aren't stupid - they can read the writing on the wall.

The Nato attack on Libya is about securing the energy supplies to fight this next war and denying them to likely opponents in Russia and or China.

I believe the west via USA and Israel & Nato will now move to take control ownership of all middle east oil including their so called "allies" in Saudi Arabia!

My best guess is that the Proverbial is about to hit the fan!

I could be wrong - it's happened before - I've been saying since gulf War 1 with stormin Norman that USA will take on Iran and here we are what 15 or so years later and still they haven't!

I've said it so often that I've become the boy who cried wolf - even i have trouble believing it!

I think this is part of the USA ploy - threaten it for so long that no one believes it any more so that when it does happen it comes as a shock!