TEHRAN Oct 2 Iran, the world's fourth-biggest
oil exporter, has boosted oil export earnings in non-U.S. dollar
currencies to 85 percent, an Iranian oil official said on
"Iran is selling about 85 percent of its oil in the
non-dollar currencies," state television quoted Mohammad Ali
Khatibi, deputy director of international affairs at the state
oil company National Iranian Oil Company (NIOC), as saying.
Last week, Hojjatollah Ghanimifard, international affairs
director of NIOC told Reuters: "With the arrangements we've made
with our Asian customers, hopefully by the end of October we
will have around 80 percent of our export revenue in currencies
other than the dollar."
Iran, embroiled in a standoff with the West over its nuclear
programme, has for nearly two years been reducing its exposure
to the dollar, saying the weak U.S. currency is eroding its
"Currently, about 65 percent of Iran's crude exports are
based on euro and 20 percent based on yen," said Khatibi.
In July, NIOC made an official request to customers in
Japan, which imports more than 300,000 barrels per day (bpd) of
Iranian crude, to pay in yen.
A switch in payment by Japan's Nippon Oil 5001.T and other
Japanese refiners to yen had already pushed Iran's non-U.S.
dollar income to more than 70 percent in September.
Iran's total crude oil exports are around 2.3 million bpd.