UnNews:Iran to resume enrichment

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18 May 2010

Euro-dollar3

With Iran selling oil to more countries in Euros, the old Petro-dollar is getting screwed

TEHRANIran appeared to make a concession in its long-running dispute with the international business community Monday, only to throw a potential spoiler into the mix soon after.

Tehran said it had agreed to send another one billion barrels of crude to Turkey in exchange for Euros.

Iran said it intended to continue enriching the state to the level when Iran can purchase the West, a move the United States and its allies do not want Tehran to make.

"We are not planning on stopping our legal right to enrich ourselves.” Iran's Foreign Ministry spokesman Ramin Mehmanparast told CNN by telephone.

The deal between Iran and Turkey had been designed to answer international concerns that Iran was making money -- a charge it has never denied.

Mehmanparast said the United States and its allies should accept the situation. “They started it. It’s Capitalism. Iran has the right to get rich!

"I don't think there's any reason why any country would object to our doing business," he said. "This deal is based on the same requirements and criteria as any business-deal, but it upsets the ‘petro-dollar’ bubble because we are selling for Euros, not US dollars."

The United States was in close contact with Turkish diplomats who helped broker the deal, a U.S. official following Iranian affairs told CNN. The official was speaking on condition of anonymity.

U.S. Secretary of State Hillary Clinton and National Security Advisor James Jones were "feverishly workings the phones" Sunday night, discussing the proposed oil deal with Turkey's Foreign Minister, Ahmet Davutoglu, the source said.

The U.S. official said Washington was willing "to give (nearly worthless} US dollars to Turkey to buy the oil from Iran"

In France, Bernard Valero, a spokesman for Foreign Minister Bernard Kouchner, noted that "Iran (has) made several large ‘oil-for-Euros’ deals over the past few months."

Valero also said Iran "must put an immediate end to constant enrichment. They are becoming far too rich!"

He said France needs time to examine Iran's position before commenting in detail on the latest developments.

An official in Israel said that country also was awaiting more details to determine whether the business is "another scheme by Iran to enrich state coffers. And a blow to the credibility of the US currency, which was tied to oil, in the absence of gold backing."

If the deal is not accepted, Turkey might in stead buy the oil for Euros from Hugo Chavez, the joint statement said.

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