Since the 20th of March, Iran trades 1 million barrels of oil with India, per 24 hours.
In exchange for Gold. (See)
The B.R.I.C. nations (Brazil, Russia, India, China and South Africa) have signed an agreement to not trade in U.S. dollars anymore, but in their own currencies. ~ 29th March, 2012
Source: http://further-left-forum.blogspot.com.au/2012/03/no-dollar-trade.html
Note: Crude oil has been priced in U.S. Dollars since 1975 (a.k.a. The petrodollar).
The B.R.I.C. nations (Brazil, Russia, India, China and South Africa) have signed an agreement to not trade in U.S. dollars anymore, but in their own currencies. ~ 29th March, 2012
Source: http://further-left-forum.blogspot.com.au/2012/03/no-dollar-trade.html
Note: Crude oil has been priced in U.S. Dollars since 1975 (a.k.a. The petrodollar).
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