"Uruguay is considering offering Iran rice shipments in return for oil in apparent disregard of U.S.-led sanctions regarding Iran's disputed nuclear program.
Uruguayan officials said they expected Iran to consider the offer that would save the Latin American country hard-earned cash from commodity exports.
Analysts said Uruguay's moves would run counter to the sanctions but could also undermine the U.S. dollar, days after a New Delhi summit announced leading emerging markets' pledge to trade in local currencies and shun the dollar."
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