Today.Az » World news » 'U.S. sanctions against Iran oblige Turkey to do nothing'
28 November 2012 [21:28] - Today.Az
The U.S. sanctions against Iranian foreign trade have obliged Turkey
to do nothing, Economy Minister Zafer Caglayan said, the newspaper The
Lira reported on Wednesday.
'We have a lot of trade agreements with Iran, so U.S. sanctions against Iran obliged us to nothing," Caglayan said.
The U.S. Senate will consider new sanctions to reduce global trade
with Iran in the energy, shipping and metals sectors. The sanctions may
restrict the export and import of precious metals to Iran.
As a result of the sanctions, Iran cannot get money for its gas
exports to Turkey in foreign currency. Thus, the country has to pay for
it in gold, Turkish Deputy Prime Minister Ali Babacan said earlier.
According to the Statistics Institute of Turkey, gold exports from
Turkey to Iran in the second quarter of 2012 totalled $4.8 billion
compared to $1 billion in the first quarter.
Turkey imports 8 million tons of oil and eight billion cubic meters of gas from Iran every year.
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