'Turkey not pays for oil and gas imports in gold'

Export of gold from Turkey is not a payment of oil or natural gas imports, the Sabah newspaper quotes Turkish Economy Minister Zafer Caglayan as saying.

"Gold is exported from Turkey in the same way as exports of other goods. Export of gold is not payment for natural gas or oil products," Caglayan said.

He said from January to November 2012 Turkey exported gold worth $11.9 billion.

At the same time, 60 percent of Turkey's gold exports accounted for Iran, 30 percent - the UAE, the remaining 10 percent - the European countries, especially Switzerland, Caglayan said.
He also underlined that during this period, Turkey's total exports amounted to $151.5 billion.
Due to international sanctions, Iran cannot get money for its gas exports to Turkey in foreign currency, therefore the country has to pay for it in gold, Turkish Deputy Prime Minister Ali Babacan said earlier.

According to the Statistics Institute of Turkey, gold exports from Turkey to Iran in the second quarter of 2012 totalled $4.8 billion compared to $1 billion in the first quarter.

Turkey imports eight million tons of oil and eight billion cubic meters of gas from Iran every year.


/Trend/