Iraq has commissioned a study into replacing the dollar with the Euro for foreign trade transactions, the official INA news agency reported Thursday.
During its weekly meeting, chaired by President Saddam Hussein, the cabinet commissioned a team of economists to "prepare a study on the possibility of using the Euro or any other currency in Iraq's trade instead of the dollar," INA said.
"This move comes within the framework of the heroic resistance of the great Iraqi people against the aggression undertaken by the Americans and Zionists," the cabinet said in a statement carried by INA.
"The use of the dollar is one of the symbols of the influence and force of our enemy," the cabinet said, adding it was the "job of Iraq to combat the enemy in all fields possible."
The cabinet also urged Arab countries "to examine the possibility of abandoning the dollar in their international transactions because this currency is subject to the influence of world Zionism and is tied to the interests of the United States." – BAGHDAD (AFP)
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