Iran prefers euro for oil exports

Iran prefers to receive euro for its oil exports, an official in the National Iranian Oil Company (NIOC), said on Saturday.

"Our priority is to receive cash for oil payments in euro" following the removal of sanctions on oil exports and lifting the ban on Iran's banking transactions, Xinhua quoted Safar-Ali Karamati as saying.

"European customers have no problem to pay for crude oil deals in euro," however, "It depends on the mutual agreement. But Iran would prefer euro," Karamati said.

In the past, Iranian officials voiced interests for the use of national currencies, instead of US dollars, in its transactions with its trade partners, berating the US for exerting economic and financial pressures on the country over its nuclear programme.