To finally clear up the Iranian Oil Bourse for DB Iran is planning to open a commodity exchange, under names variously referred to in English as Iran Petroleum Exchange, International Oil Bourse or Iranian Oil Bourse, for the express purpose of trading oil, petrochemicals and gas in various non-dollar currencies, primarily the Euro. If successful, this would establish a euro-based pricing mechanism for oil trading, or oil marker as it is called by traders. In March 2006, the Petroleum Minister of Iran, Kazem Vaziri Hamaneh, announced that due to "technical glitches", the Bourse launch was postponed, with no new date set. . However, as of April 26 Iran had restarted its move to open the oil market, and Kazem announced the bourse was set to open the first week of May . In May 2006, Minister of Economic Affairs and Finance Davud Danesh-Jafari said the Oil Ministry has a two-month deadline for presenting the Articles of Association of the Iranian Oil Bourse. Danesh-Jafari said that the Euro had not yet been finalized as the legal tender of transactions in the oil bourse, and the final decision about that depends upon the Oil Ministry’s proposed IOB Articles of Association  http://en.wikipedia.org/wiki/Iranian_Oil_Bourse http://oilbourse.blogfa.com/ So the assertions made here were on point and the journalists reporting the setting up of an Oil Bourse were correct, even though the BBC or Guardian didnt touch it. but there are those concerns about Nukes -- yeah right.