World Affairs
Year : 2006, Volume : 10, Issue : 2
First page : ( 126) Last page : ( 133)
Print ISSN : 0971-8052.

The new international Iranian oil bourse and the global economy

Petrov Krassimir

Abstract

The American empire is struggling to delay its own economic debt-induced collapse by maintaining the fast declining US Dollar as the world's oil currency. However, sinking confidence is leading some energy-exporting states, especially Iran and Russia to seek alternatives to the “greenback”. The Euro represents one of those alternatives and the expected opening of an Iranian oil bourse may help bring about the end of the Dollar as the global reserve currency.

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