US Sanctions Cut Off Turkey-Iran Gold Trade, Continue to Cripple Iranian Economy

Daniel Ensign — February 19, 2013 – 3:36 pm | Barack Obama | Foreign Policy | Iran Comments (0) Add a comment

As a result of the United States’ continuing pressure against Iran due to their pursuits of developing nuclear weapons, a recent report from Reuters reveals that the “gas-for-gold” trade between Turkey and Iran has been frozen out. This follows on previous reports of the crippling effects of US and European Union sanctions against Iran and a commitment from President Obama to “prevent them from getting a nuclear weapon” during the State of the Union.

The most recent sanctions, passed into law last summer and implemented on February 6th by the Treasury Department, require Iran to use the money from any oil sales to Turkey to be used for sanction-free goods such as food and medicine.

The full text of the Reuters report can be found here.

 

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