The Iranian Oil Bourse, a non-U.S. dollar forum established for the trade of oil, gas and petrochemicals, is set to open for business on Kish Island on Feb. 17, according to EIN News and Iranian television.
The Bourse had been set to open during the week commemorating the anniversary of the Islamic Revolution, said Iran's Foreign Minister Davoud Danesh-Jafari, but the Internet communication breakdown delayed the launch.
The primary trade currency used by the Bourse will be the euro. The Iranian Bourse would establish a euro-based oil marker if successful.
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