Tag: Sanctions against Iran

Iran, Turkey resume gold trade despite US sanctions

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.

via Iran, Turkey resume gold trade despite US sanctions – Trend.Az.

April 2, 2013
Turkey resumes gold exports to Iran

Turkey resumes gold exports to Iran

Source: Radio Zamaneh

Turkey exported $120 million in gold to Iran in February and, according to Reuters, this evidence reveals that despite U.S. restrictions, the trade of natural gas for gold continues between the two countries, albeit at lower levels.

Reuters reported on March 29 that TUIK, Turkey’s statistics institute, says the country did not export any gold to Iran in January 2013; however, in February, $114.9 million in gold was sold to Iran, and gold exports to Dubai, which is often a route for the transfer of gold to Iran, went up from $371 million in January to $402.3 million.

A gold merchant in Istanbul told Reuters that the gold traders do not want to draw too much attention to their dealings with Iran, which is perhaps why gold exports to Iran were stopped in January.

Iran is a major supplier of natural gas and oil to Turkey, and U.S. sanctions on Iran have put restrictions on paying for these commodities in euros or dollars.

Turkey has been exempted from U.S. sanctions on trade with Iran but that exemption is due to expire in July.

via Turkey resumes gold exports to Iran.

March 31, 2013
Turkey stops publishing details of oil imports from Iran

Turkey’s refiner Tupras has urged the country’s statistics agency to stop divulging details of its oil imports from Iran amid US sanctions on Tehran’s oil sector over its nuclear energy program.

Turkey says it stops publishing details of the country’s oil imports from Iran.(file photo)

The Turkish Statistical Institute (TUIK) stopped detailing its oil imports in late December and released only figures for total monthly imports.

“Tupras asked us last month not to reveal the origin of our crude oil imports and instead give an overall figure,” a TUIK official said, requesting anonymity.

“We were not informed of the reason for the change in policy,” he said.

Tupras officials and TUIK declined to comment on the issue.

Before the change in policy, Tupras had received two Iranian crude cargoes of 145,000 tons and one of 140,000 tons at the Tutunciftlik import terminal.

At the beginning of 2012, the US and the European Union imposed new sanctions on Iran’s oil and financial sectors with the goal of preventing other countries from purchasing Iranian oil and conducting transactions with the Central Bank of Iran.

On October 15, 2012, the EU foreign ministers reached an agreement on another round of sanctions against Iran.

The United States granted 180-day waivers on Iran oil sanctions to Turkey on December 7, 2012.

The illegal US-engineered sanctions were imposed based on the unfounded accusation that Iran is pursuing non-civilian objectives in its nuclear energy program.

Iran rejects the allegations, arguing that as a committed signatory to the Non-Proliferation Treaty and a member of the International Atomic Energy Agency, it has the right to use nuclear technology for peaceful purposes.

SF/AZ/MA

via PressTV – Turkey stops publishing details of oil imports from Iran.

January 6, 2013
Minister says Turkey will keep buying gas from Iran

Despite sanctions against Iran over its disputed nuclear programme, Turkey stated it will keep buying gas from the former country

AFP , Wednesday 26 Dec 2012

Turkey will keep buying natural gas from neighbouring Iran as Western allies raise pressure over Tehran’s disputed nuclear programme, Energy Minister Taner Yildiz said on Wednesday.

“It is out of question for us to take a step backward,” Yildiz was quoted as saying by the Anatolia news agency. “Furthermore, we have not been asked to take such a step.”

Iran is Turkey’s second biggest natural gas supplier after Russia, and Yildiz said that Tehran supplies 18-20 percent of the gas that Turkey consumes.

On November 30, the US Senate unanimously approved new economic sanctions aimed at further crippling Iran’s energy, shipping and port sectors a year after the Congress passed tough restrictions against Tehran.

The latest US proposal is expected to sail through the US House of Representatives and be signed into law by President Barack Obama.

Iran’s economy is struggling to cope with tightening sanctions imposed by the United States and the European Union over the past two years.

An EU measure which took effect in July halted European purchases of Iranian crude oil, and has since caused Tehran’s oil exports to Asian customers to decline by between 10-30 percent.

On December 7 however, the United States extended exemptions from sanctions designed to choke Iran’s oil exports to nine major economic powers, including Turkey, China, Taiwan, India and South Korea.

Yildiz noted on Wednesday that the Turkish oil refiner TUPRAS has continued to import crude oil from Iran.

“Unlike some European countries, Turkey is not a country which imports three-five percent of its needs from Iran,” the minister explained in a reference to crude oil shipments.

“Last year, Turkey met almost half of its needs from Iran. It is an important source of imports therefore.”

Yildiz added that Turkey had bought more oil from Libya, Saudi Arabia and Russia to make up for declining crude imports from Iran due to US-EU sanctions.

via Minister says Turkey will keep buying gas from Iran – Region – World – Ahram Online.

December 27, 2012
Turkey opposes anti-Iran sanctions: Turkish minister

Turkish Minister of Development Cevdet Yilmaz has reiterated his country’s opposition to the US-led sanctions against Tehran, saying Turkey will not comply with anti-Iran embargoes.

“We voted against Iran’s sanctions in the United Nations,” said Yilmaz, adding that Turkey, as a friendly country to Iran, “will not support sanctions against the Islamic Republic.”

Yilmaz made the remarks in a meeting with Chairman of Iran’s Chamber of Commerce, Industries and Mines (ICCIM) Mohammad Nahavandian and a number of Iranian businessmen in the Iranian capital, Tehran, on Monday.

The US, Israel and some of their allies accuse Iran of pursuing a military nuclear program, and have used the allegation as a pretext to push the UN Security Council to impose four rounds of sanctions on the Islamic Republic.

The U.S. and the EU have imposed new financial sanctions as well as oil embargoes against Iran since the beginning of 2012, claiming that the country’s nuclear energy program includes a military component.

Iran strongly rejects the allegations, maintaining that as a signatory to the nuclear Non-Proliferation Treaty and a member of the International Atomic Energy Agency, it has the right to use nuclear technology for peaceful purposes.

The Turkish minister further said Iran and Turkey should use all the existing opportunities and capacities to boost the volume of bilateral trade, which currently stands at USD 16 billion per annum.

He also called for the establishment of more joint entry ports as well as the expansion of cross-border transportation between Iran and Turkey.

During the meeting, Iran’s Deputy Commerce Minister Massoud Movahedi praised ‘the deep-rooted’ relations between Tehran and Ankara, and said the two sides have planned to double the volume of their trade in the next three years.

The Iranian official referred to the exchange of trade delegation and creation of joint exhibitions as ways to boost mutual economic relation, and called on the private and state sectors of both countries to remove trade barriers.

Iran and Turkey have sharply increased the level of their trade ties over the past years. In 2000, the level of bilateral trade stood at about only one billion dollars, but in 2010, it exceeded 10 billion dollars. The figure hit 15 billion dollars last year.

The two neighboring countries seek to raise the value of their bilateral trade to 30 billion dollars in 2015.

(Source: PressTV)

via Turkey opposes anti-Iran sanctions: Turkish minister – Tehran Times.

May 23, 2012
Israel Matzav: Turkey wants US exemption from Iran sanctions

President Obama’s best friend among Middle East leaders wants an exemption from tough US sanctions against purchasers of Iranian oil that are due to come into effect at the end of June (Hat Tip: Joshua I).

“Turkey’s absence from the United States waiver list regarding the Iran issue doesn’t mean it will not be included,” [Turkish Energy Minister Taner] Yıldız told reporters at an energy conference in Ankara.

Prime Minister Recep Tayyip Erdoğan plans to raise the issue with US President Barack Obama during a nuclear security summit in South Korea later this month, Turkish officials told Reuters.

Diplomatic sources in Ankara told Today’s Zaman that the Turkish government officials have been continuing their efforts to have Turkey included in the waiver list of Washington.

Turkey imports around 200,000 barrels per day of oil from Iran, representing over 7 percent of Iran’s oil exports. Yıldız said Turkey would continue to buy oil from Iran until existing contracts expire.

The United States exempted Japan and 10 EU nations from financial sanctions because they have significantly cut purchases of Iranian crude oil, but left Iran’s top customers China and India exposed to the possibility of such steps.

The decision announced on Tuesday is a victory for the 11 countries, whose banks have been given a six-month reprieve from the threat of being cut off from the US financial system under new sanctions designed to pressure Iran over its nuclear program.

Yıldız said Turkey could not halt purchasing from Iran unless other suppliers were lined up.

The Republican Presidential candidates ought to be making a big deal out of this. Giving out all those exemptions – and there probably will be more – is effectively gutting sanctions that passed the Senate over Obama’s objections by 100-0.

via Israel Matzav: Turkey wants US exemption from Iran sanctions.

March 23, 2012