According to Chavez, Russia and Iran also fell the same about the dollar.

Hugo Chavez, president of Venezuela, has an original initiative. He seeks to abolish the dollar as a basic means of payment in the oil trade.
Chavez claims that this issue was already discussed in the meetings of OPEC.
The idea is to use more currencies in the oil trade such as the Japanese Yen, the Chinese Yuan, the euro, gold and a new currency that would be common for Saudi Arabia, Abu Dhabi, Kuwait and Qatar.