Google .....
The Iranian Oil Bourse[1] (Persian: بورس نفت ایران) International Oil Bourse,[2] Iran Petroleum Exchange or Oil Bourse in Kish[3] (IOB; the official English language name is unclear) is a commodity exchange which opened on February 17, 2008.[4][5][6][3] It was created by cooperation between Iranian ministries, the Iran Mercantile Exchange and other state and private institutions. The IOB is intended as an oil bourse for petroleum, petrochemicals and gas in various currencies, primarily the euro and Iranian rial and a basket of other major currencies apart from the United States dollar. The geographical location is at the Persian Gulf island of Kish which is designated by Iran as a free trade zone.[7]
During 2007, Iran asked its petroleum customers to pay in non US dollar currencies. By December 8, 2007, Iran reported to have converted all of its oil export payments to non-dollar currencies.