Source: Iran wants euro payment for new and outstanding oil sales
Iran wants to recover tens of billions of dollars it is owed by India and other buyers of its oil in euros and is billing new crude sales in euros, too, looking to reduce its dependence on the US dollar following last month's sanctions relief.
A source at state-owned National Iranian Oil Co (NIOC) told Reuters that Iran will charge in euros for its recently signed oil contracts with firms including French oil and gas major Total, Spanish refiner Cepsa and Litasco, the trading arm of Russia's Lukoil.Iran has also told its trading partners who owe it billions of dollars that it wants to be paid in euros rather than US dollars, said the person, who has direct knowledge of the matter.
