Iran and Turkey to renew gold trade

Turkey plans to renew purchases of Iranian gas and will sign a contract worth $120 million paid in gold, Reuters reports.

Turkey exported gold worth about $120 million to Iran in February after announcing a moratorium in January. No gold was sold in January.

The US Treasury passed new sanctions against Iranian petroleum income on February 6, 2013.

Turkish Minister for Economy Zafer Caglayan said on January 4, 2013, that the EU was persuading Turkey to stop gold trade with Iran.

Turkish Energy Minister Taner Yildiz said on December 26, 2012, that Ankara will continue purchases Iranian gas, despite the sanctions.

Adapted from Vestnik Kavkaza