‘If the Washington/Tel Aviv-promoted hysteria is already at fever pitch, wait for March 20, when the Iranian oil bourse will start trading oil in other currencies apart from the US dollar, heralding the arrival of a new oil marker to be denominated in euro, yen, yuan, rupee or a basket of currencies.
That would suit Asian clients – from BRICS members India and China to US allies Japan and South Korea, not to mention NATO member Turkey. But that would also suit European clients, to pay for oil in their own currency. Tehran – as well as many key players in the developing world – does want to sink the petrodollar. That may be the straw to break the American camel’s back.” – Pepe Escobar, “US wants SWIFT war on Iran,” February 17, 2012.’