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Article posted Sep 12 2012, 2:28 AM Category: Economy Source: ZeroHedge Print

Iran Gold Imports From Turkey Surge To $8 Billion YTD As Gold Increasingly Used As Currency

by Tyler Durden

There is speculation that the Iranian central bank is buying gold and that they may be accepting gold in payment for oil and gas in order to bypass western sanctions.

Turkey is paying for the oil and natural gas it is importing from Iran in gold, Turkish opposition deputies have claimed, drawing attention to the enormous increase in Turkey's gold exports to Iran in 2012.

“Gold is being used as an instrument for payment. Under the guise of exportation, gold is being sent to Iran in exchange for oil,” Sinan Aygün, a deputy from the Republican People's Party (CHP), has told Turkish daily Today's Zaman.

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