Combined with a fall in oil prices, (due to lower demand) could a rise in the dollar against the ruble and the euro spell big trouble for Iran?

Looking up Iranian Oil Bourse on Wikipedia I see that Iran has stopped accepting dollars for oil.

The date given is December 2007.

The citation linked is from the Russian News & Information agency:

“TEHRAN, December 8 (RIA Novosti) – Iran has stopped selling its oil for U.S. dollars, the Iranian ISNA news agency said on Saturday, citing the country’s oil minister.

“In line with a policy of selling crude oil in currencies other than the U.S. dollar, the sale of our country’s oil in U.S. dollars has been completely eliminated,” ISNA reported Oil Minister Gholamhossein Nozari as saying.

He also said “the dollar is no longer a reliable currency.”

Iran is the world’s fourth-largest crude oil producer. ”

I’ve always wondered why our currency remained stable without the gold standard, a la Adam Smith.

I attributed it to the currency being backed by aircraft carriers and figured we would be in trouble if we demilitarized.