TEHRAN – Iranian President Mahmud Ahmadinejad on Sunday proposed launching a bank for the Organization of Petroleum Exporting Countries and urged OPEC states to adopt a single currency in oil deals.

“OPEC should prepare a clear plan to fully exercise the rights of petroleum exporting countries… OPEC members should set up a common bank and adopt a single currency,” Ahmadinejad told visiting OPEC Secretary General Abdullah Salem al-Badri on Sunday.
The president also urged the OPEC countries to boost cooperation in the production and export of crude oil.
He criticized certain oil importers for keeping crude prices lower than the real value.
“Unfortunately some importers do not let oil have the actual price so that they can protect their interests,” Ahmadinejad lamented.
Al-Badri, for his part, said OPEC plans to drop U.S. dollar from oil deals.
He expressed support for Ahmadinejad’s view on low crude prices, adding, “As long as OPEC countries stand by each other, no country can influence oil issues.