Iran dumps U.S. dollar for oil trades - CNN.com
CNN reports: "Iran, OPEC's second-largest producer, has stopped conducting oil transactions in U.S. dollars, a top Oil Ministry official said Wednesday, in a concerted attempt to reduce reliance on Washington at a time of tension over Tehran's nuclear program and suspected involvement in Iraq."

Comment: I can't help but feel this portends war with Iran in the near future. One of the foundational rules of the American Empire is that oil trading is to be conducted with U.S. dollars. Bush either defends this basic rule or he concedes that the Pax Americana is over. I can't really see him making that concession, can you?