"They get our oil and give us a worthless piece of paper," Ahmadinejad said earlier after the close of the summit in the Saudi capital of Riyadh.

The comments by the Iranian president gained backing from Venezuelan President Hugo Chavez as he said at the same event, "The empire of the dollar has to end."

On the soaring oil prices, the Iranian president said, "At a time when the growth of consumption is lower than the growth of production and the market is full of oil, prices are rising and this trend is completely fake and imposed."

"As you know the decrease in the dollar's value and the increase in energy prices are two sides of the same coin which are being introduced as factors behind the recent instability," Ahmadinejad added.

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