“All ministries, governmental organizations and firms are obliged to choose euro as the main currency used in reporting and publishing statistics, information and financial data,” read a statement published on the Iranian government’s website on Wednesday.
The decision was made at a meeting of the Cabinet on Wednesday, apparently in response to what Iranian officials describe as an economic plot hatched by the US and its allies to decrease the value of the Iranian currency rial.
The bill must be approved by the Iranian parliament and the Guardian Council before going into effect.
The Iranian rial hit a record low against the US dollar for the second time in two months in the past few days, prompting some currency dealers to suspend trading.
Governor of the Central Bank of Iran (CBI) Valiollah Seif said, The measures taken to control the currency market have short-time and long-time effects.
He went on to say that ruling the country’s economy and preventing it from being vulnerable to the enemies’ conspiracies are among the long-time effects of the decision.
Some analysts blame threats by US President Donald Trump that he will return US sanctions on Iran unless the so-called flaws of the 2015 nuclear deal are fixed.
The deadline for Trump administration to extend Iran sanctions waivers is May 12. The US refusal to keep sanctions frozen will mean the US is longer bound by the pact.
