Iran ready to be paid in gold, national currencies for oil

Tehran announced Tuesday that it is ready to receive payment for oil supplies in gold as well as the national currencies of importer countries. That’s according to Mahmoud Bahmani, Governor of the Central Bank of Iran.

­In trade operations with foreign countries Iran does not limit itself to dollars, and any state is free to use its own currency, Bahmani is quoted as saying by Russia’s Itar-Tass news agency. He also added that if any client state wants to pay in gold, Iran would accept it without hesitation.

In 2012 the US toughened sanctions against the country that attempt to obstruct the activities of the Central Bank of the Islamic Republic of Iran. Washington warned that sanctions would also be applied against international banks that use US dollars in deals with Iran. As a result, countries that buy Iranian oil have faced the problem of how to pay for it. Now, the Islamic country is working to accommodate its clients through the offer to accept their national currencies.

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