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Turkey: Energy Ties With Iran Turning to a Gold Standard?

Ankara has released the latest figures for Turkish-Iranian trade and they have yielded one very interesting statistic: in the last five months, three quarters of Turkey's gold exports have gone next door to Iran. Reports Today's Zaman:

Data from the Turkish Statistics Institute (TurkStat) have shown that Turkey exported gold worth $4.02 billion in the first five months of 2012, with $3.08 billion of that sum exported to Iran. This means Turkey’s gold exports to Iran have increased roughly eightfold compared to the same period in 2011. It is speculated Iranians are turning to gold as a method of saving as Western sanctions tighten.

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Turkey: Energy Ties With Iran Turning to a Gold Standard?

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