"Sanctions That Benefit" - Obama's BFF Turkey resume gold trade with Iran despite US sanctions.

"Sanctions That Benefit" - Obama's BFF Turkey resume gold trade with Iran despite US sanctions.(TI).Iran and Turkey resume their trade of gold for natural gas and make USD 120 million deal in February, circumventing tough US sanctions against Tehran over its nuclear energy program, Press TV reported.

Turkey exported almost USD 120 million worth of gold to Iran in February after it announced a moratorium in January, Reuters reported.

Data from the Turkish Statistics Institute (TUIK) showed that Ankara sold no gold to Tehran in January as banks and dealers implemented the February 6 US sanctions targeting Iranian oil revenues.

The US and its European allies have imposed illegal unilateral sanctions against Iran based on the unfounded accusation that Iran is pursuing non-civilian objectives in its nuclear energy program.

On February 6, 2013, the US Treasury Department announced new sanctions targeting Iranian oil revenues. The sanctions prevent Iran from gaining access to earnings garnered from its crude exports.

One Istanbul gold trader asking not to be named, said, "Due to the sanctions, nobody wants to attract attention. That may be the reason why exports stopped to Iran in January."

"However, trade with Iran continues; there will always be transfers. Looking at this year's figures, the February exports to Iran are quite low, so it shouldn't cause issues," he added.

On January 4, 2013, Turkish Economy Minister Zafer Caglayan slammed European Union pressures on Ankara to stop gold-for-gas trade with Iran, saying the EU demand would fall on "deaf ears."

On December 26, 2012, Turkish Energy Minister Taner Yildiz said Ankara would keep buying natural gas from Iran regardless of Western sanctions against the Islamic Republic.Hmmmmm......Why is Turkey allowed to mock the US Congress?Read the full story here.

Related:  "Sanctions That Benefit Obama's BFF Turkey" - Iran Bypassing Sanctions on its Oil, Aided by Asian Customers and the Obama Admin."


As expected Obama will give BFF Turkey a waiver from sanctions, they 'only' import 45 percent of their oil from Iran and aid Iran avoiding sanctions.

U.S. exempts seven countries that consume Iran oil from sanctions.
Obama administration officials didn't say how much the seven countries had cut their oil purchases. In March, U.S. officials signaled that they were seeking reductions of 15% to 22% of purchases.

Several large countries, including India and Turkey, said publicly that they were reluctant to reduce imports of Iranian oil because of their long reliance on the Islamic regime. They appear to have met the minimum level of cooperation that Washington demanded, however.How Much did Turkey actually 'reduce' it's inports??

Answer:
Before May, Turkey was the only buyer in Europe to increase purchases from Iran, while other European refiners cut back on imports of the crude ahead of an impending EU oil embargo due to take effect from July 1.In the first four months of 2012, Turkey imported 210,000 barrels per day of Iranian oil on average, including a huge 270,000 bpd in March, much higher than its 2011 average of 185,000 bpd.

In May Turkey's state-controlled refining company, Tupras, imported around 140,000 barrels per day (bpd), a 20 percent drop from its 2011 average, according to the latest shipping data, obtained by Reuters. Port data showed 152,000 tonnes of Iranian crude was delivered to the port of Aliaga in May, while 443,000 tonnes of Iranian crude was delivered to its second import terminal, Tutunciflik. Tupras is expected to import the same volume in June.
From July 1, Turkey will remain effectively the sole buyer of Iranian crude in Europe. Official trade data showed that in the first four months of this year, Iran accounted for about 58 percent of Turkey's near 6 million tonnes in total crude imports.
THIS REDUCTION IS A PURE SMOKESCREEN APPROVED BY THE OBAMA ADMIN!