Jul 13, 2007

In a letter dated July 10, Iran has asked Japan to pay for oil imports in yen, rather than in dollars.

http://www.sandersresearch.com/index.php?option=com_content&task=view&id=1281

The dollar is already at a new low against the Euro and other currencies, and this will no doubt have a continuing negative effect on the U.S. currency.

With President Bush's track record and threats of war and bombings, it only makes sense for Iran to do this. They have seen how America often freezes assets, and so they do not want to be left with bank accounts that are inaccessible and can be used to pressure (low-level blackmail) them into conforming to the will of the U.S. President.