Wednesday 28 November 2012

Turkey-Iran: gold for gas gets US scrutiny | beyondbrics

More pressure is coming Turkey’s way over gas purchases from Iran.

After the Turkish government’s admission last week that Tehran was using revenue from gas sales to Ankara to buy gold and then shipping the metal back home, the gas-gold trade has attracted (almost certainly unwelcome) attention from the US Senate.

Reuters has reported that a group of senators are working on a sanctions package that would, among other things, end Turkey’s “game of gold for natural gas”, according to an aide. The measures could be added to a defence bill before the current US Congress breaks up; if not, the issue is very likely to be on the agenda when its successor convenes in January.

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