India Drops the Dollar and Pays for Iranian Oil in Gold

India Drops the Dollar and Pays for Iranian Oil in Gold

from OilPrice.com Daily News Update by agmetal@oilprice.com (Ag Metal Miner)

Media reports suggests that India has agreed to pay the price of crude oil it imports from Iran in gold, which makes it the first country to drop the US dollar for purchasing the Iranian oil.
Citing an Israeli intelligence website, The Times of India has reported that India is opting for gold to repay crude oil supplies from Iran. The website, Debkafile, said the transaction will be routed through…
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