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Iran buys Turkish gold with money from gas exports

Tuesday, 27 November 2012

Turkish Deputy Prime Minister Ali Babacan said that the most important reason behind the significant increase in Turkey’s golden bullion export is Iran. He added that Iranians are buying Turkish gold with the Turkish Lira, which is deposited into their bank accounts in exchange for Turkey’s natural gas purchases. “As Iran could not transfer the payment to (its own banks) in foreign exchange, the country buys gold with Turkish lira, and then takes the gold to its country. I do not know how Iran transports the gold, but this is the root of the matter. Our gold exports to Iran in reality become payment for the natural gas we buy from it.”

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  • Published: 3 days ago on Tuesday, 27 November 2012
  • By: Iran Daily Brief
  • Last Modified: November 27, 2012 @ 2:32 pm
  • Filed Under: Economy
  • Tagged with:
  • Source(s):
    • http://tinyurl.com/c3d46nw (Tabnak)

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