Steel is Turkey's latest helping hand to Iran

By REUTERS
August 16, 2012 18:20

 
X

Dear Reader,
As you can imagine, more people are reading The Jerusalem Post than ever before. Nevertheless, traditional business models are no longer sustainable and high-quality publications, like ours, are being forced to look for new ways to keep going. Unlike many other news organizations, we have not put up a paywall. We want to keep our journalism open and accessible and be able to keep providing you with news and analyses from the frontlines of Israel, the Middle East and the Jewish World.

As one of our loyal readers, we ask you to be our partner.

For $5 a month you will receive access to the following:

  • A user uxperience almost completely free of ads
  • Access to our Premium Section and our monthly magazine to learn Hebrew, Ivrit
  • Content from the award-winning Jerusalem Repor
  • A brand new ePaper featuring the daily newspaper as it appears in print in Israel

Help us grow and continue telling Israel’s story to the world.

Thank you,

Ronit Hasin-Hochman, CEO, Jerusalem Post Group
Yaakov Katz, Editor-in-Chief

UPGRADE YOUR JPOST EXPERIENCE FOR 5$ PER MONTH Show me later Don't show it again

LONDON - Turkey's importance as a trade conduit to Iran has widened to include supplying most of its steel as Turkish banks are among the very few still willing to arrange financing for the sanctions-hit country.

Despite sometimes strained political ties, trade between the two neighbors has risen sharply over the past decade, with Turkey regarded by some as a possible weak link in international sanctions imposed on Iran over Tehran's suspected development of nuclear weapons.

Iran is Turkey's biggest export market for gold while Turkey is Europe's only remaining importer of Iranian oil.

Now traders say steel bound for Iran is on the rise, after plunging earlier this year as toughened US-led sanctions left Iranian buyers without access to major currencies.

Related Content

Breaking news
July 21, 2018
Incoming Mexico leader blasts campaign fine as 'act of vengeance'

By REUTERS