Iran General NewsChavez in Tehran: "Empire of dollar is crashing"

Chavez in Tehran: “Empire of dollar is crashing”


Reuters: Venezuelan President Hugo Chavez said on Monday the “empire of the dollar is crashing”, a day after his country and anti-U.S. ally Iran advocated action over the weakening U.S. currency during an OPEC summit in Riyadh. By Parisa Hafezi

TEHRAN (Reuters) – Venezuelan President Hugo Chavez said on Monday the “empire of the dollar is crashing”, a day after his country and anti-U.S. ally Iran advocated action over the weakening U.S. currency during an OPEC summit in Riyadh.

Chavez, who on Saturday said oil prices could double to $200 per barrel if the United States attacks Iran over its disputed atomic ambitions, spoke to reporters after talks with his Iranian counterpart Mahmoud Ahmadinejad in Tehran.

The two leaders agreed to set up a joint Iranian-Venezuelan bank and also signed deals to boost cooperation in the oil, petrochemical and industry sectors, Iranian media reported without giving details about the accords.

Ahmadinejad — whose country is under banking and other international sanctions over its nuclear program — on Sunday called the U.S. dollar a “worthless piece of paper” and Chavez took a similar line on Monday.

“Soon we will not talk about dollars because the dollar is falling in value and the empire of the dollar is crashing,” Chavez said in comments translated into Farsi from Spanish.

“Naturally, by the crash of the dollar, America’s empire will crash,” Chavez said at a joint news conference with Ahmadinejad. The two presidents share the same viewpoint in denouncing U.S. influence in the world.

The final statement of the oil cartel’s November 17-18 summit did not include any reference to the falling dollar, in an apparent victory for U.S.-allied moderates led by Saudi Arabia.

But Iran and Venezuela made clear before and after the summit that they would press for action, which could include pricing oil in a basket of currencies.


A fall in the value of the U.S. dollar on global markets helped fuel oil’s rally to a record $98.62 on November 7 but it has also eroded the purchasing power of OPEC members.

Fears the United States could attack Iran — over a nuclear energy program Washington says is a cover for seeking bombs — have also contributed to dearer crude. Tehran denies the charge.

Chavez last visited Iran in July when he and Ahmadinejad launched construction of a joint petrochemical plant in a bid to strengthen an “axis of unity” between their nations.

“We are determined to expand our bilateral and international cooperation as much as possible and to defend our nations’ rights,” Ahmadinejad said on Monday.

“Today we reached very important and constructive agreements which will accelerate the two countries’ cooperation,” Iran’s state broadcaster quoted him as saying.

Chavez said he believed other countries would join the joint bank. The announcement comes after many Western banks, under U.S. pressure, either pulled out or reduced business with Iran, which is under U.N. sanctions over its refusal to suspend its most sensitive nuclear work.

Iranian leaders have shrugged off the impact of sanctions but economic analysts say they are hurting badly needed investment in the country, which is struggling with double-digit inflation and jobless rates.

(Reporting by Parisa Hafezi; Writing by Fredrik Dahl; Editing by Ron Askew)

Latest news

Iran: People of Khoy Still Reeling From 5.9-Magnitude Earthquake

An earthquake with a magnitude of 5.9 struck northwest Iran on Saturday, killing at least three people and injuring...

Iran’s Unsolvable Air Pollution Problem

Air pollution will remain at dangerous levels and will increase for the next few days in most big cities,...

The World Must Acknowledge the Iranian People’s Right to Self-defense

Victor Hugo once said: “When dictatorship is a fact, revolution becomes a right.” Throughout history, this has been the...

Iran: 60% Of Population Is Poor

The livelihood baskets of the Iranian people are shrinking dramatically. This, in turn, has introduced new concerns to protect...

The implications of EU’s terrorist designation of the Revolutionary Guards (IRGC)

The European Parliament called on January 18 for the European Union to list Iran's Revolutionary Guards (IRGC) as a...

Iran’s Regime Is Hiding Human Rights Violations In Its Prisons

With more than four months into Iran’s latest round of nationwide uprisings, the brutality of the Iranian regime’s security...

Must read

Iran dismisses U.S. policy shift

CNN: The United States has dropped its opposition to...

Khamenei warns West not to interfere in Iran

Reuters: Iran's Supreme Leader Ayatollah Ali Khamenei warned Western...

You might also likeRELATED
Recommended to you