China shifts to euros for Iran oil
BEIJING (Reuters) - China's state-run Zhuhai Zhenrong Corp, the biggestbuyer of Iranian crude worldwide, began paying for its oil in euros latelast year as Tehran moves to diversify its foreign reserves away from U.S.dollars. The Chinese firm, which buys more than a tenth of exports from theworld's fourth-largest crude producer, has changed the payment currency forthe bulk of its roughly 240,000 barrels per day (bpd) contract,Beijing-based sources said. "Most of China's purchases have shifted to euro.It's not difficult so long as our banks can handle that," said a Chinesestate oil trader

thanks Laura :)