An official with the Iranian Oil Terminals Company (IOTC) says Iran can swap up to 120,000 b/d of crude oil with its northern neighbors at North Oil Terminal.

Director of the International Affairs Department at National Iranian Oil Company (NIOC) Mohsen Qamsari said on Wednesday that due to problems Iran has with the US, dollar is replaced in certain dealings with preferably euro and then other currencies like Japanese yen and the UAE's dirham.