Iran has completely stopped selling any of its oil for U.S. dollars, an Iranian news agency reported on Saturday, citing the oil minister of the world’s fourth-largest crude producer.

Iranian President Mahmoud Ahmadinejad, who often rails against the West, has called the U.S. currency a “worthless piece of paper.”

Nozari told ISNA: “In regards to the decrease in the dollar’s value and the loss exporters of crude oil have endured from this trend, the dollar is no longer a reliable currency.

Iran stops selling oil in U.S. dollars