Will EU buy Iranian oil in euros?

Will EU buy Iranian oil in euros?

The European Union is planning to switch from US dollars to euros when paying for the oil supplies from Iran, a diplomatic source said.

On May 15, EU foreign policy chief Federica Mogherini said that after talks with the foreign ministers of the United Kingdom, France, Germany, and Iran in Brussels that the sides had agreed to work out practical solutions in response to the US withdrawal from the JCPOA, within the next few weeks. In particular, the European Union and Iran would maintain and deepen economic ties, including in the area of oil and gas supplies, Sputnik recalls.

On May 8, US President Donald Trump announced his decision to withdraw the United States from the JCPOA, also known as the Iran nuclear deal. He also vowed to reinstate the sanctions against Iran that were lifted as a result of the agreement.

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