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Iran Accepts Payment in Gold to Get Around Sanctions

Posted By admin On November 25, 2012 @ 7:05 am In Money Watch,Tile | Comments Disabled

EPJ [1]
November 25, 2012

Yet another reason the US government hates gold, unlike dealing with paper money in bank accounts, there is no way they can stop international trade in gold and it is difficult to track gold movements.

WSJ reports [2]:

Turkey on Friday acknowledged that a surge in its gold exports this year is related to payments for imports of Iranian natural gas, shedding light on Ankara’s role in breaching U.S.-led sanctions against Tehran.

The continuing trade deal offers the most striking example of how Iran is using creative ways to sidestep Western sanctions over its disputed nuclear program, which have largely frozen it out of the global banking system.

The disclosure was made by Turkey’s Deputy Prime Minister and top economic policy maker Ali Babacan in answers to questions from the parliamentary budget committee.


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URL to article: http://www.prisonplanet.com/iran-accepts-payment-in-gold-to-get-around-sanctions.html

URLs in this post:

[1] EPJ: http://www.economicpolicyjournal.com/2012/11/iran-accepts-payment-on-gold-to-get.html

[2] reports: http://online.wsj.com/article/SB10001424127887324352004578136973602198776.html

[3] Iran scolds world powers over gold sanctions “offer”: http://www.prisonplanet.com/iran-scolds-world-powers-over-gold-sanctions-offer.html

[4] Iran rides high on nuclear concessions, demands end to sanctions: http://www.prisonplanet.com/iran-rides-high-on-nuclear-concessions-demands-end-to-sanctions.html

[5] US House passes Iran sanctions bill to slash oil exports: http://www.prisonplanet.com/us-house-passes-iran-sanctions-bill-to-slash-oil-exports.html

[6] EU to introduce new Iran sanctions: http://www.prisonplanet.com/eu-to-introduce-new-iran-sanctions.html

[7] US not backing off as Iran sanctions bite: http://www.prisonplanet.com/us-not-backing-off-as-iran-sanctions-bite.html

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