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Iran is going to withdraw using dollar in oil trade. Transactions with several companies will be made in Euro.

The source at National Iranian Oil Company (NIOC) told Reuters that the contracts in European currency have already been signed with French corporations Total and Litasco, as well as the Spanish Cepsa, Lenta reports.

The source also noted that Tehran is also looking to reduce its dependence on the U.S. dollar.

The decision to shift to Euro was adopted when Iran was under international sanctions. 

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