January 27, 2015 | Quote

Iran Is Ditching The Dollar In Foreign Trade

And over the past few years, Iran has been strengthening economic and military ties with others countries (including China and Russia) in an effort to circumvent the Western-imposed sanctions.

Turkey ran an extensive gas-for-gold scheme with Iran, which ran from about March 2012 to fall 2013 and yielded Iran more than $13 billion amid crippling sanctions implemented by the US over the country's perceived nuclear program.

“It's a huge amount of money, Jonathan Schanzer, a former terrorism-finance analyst at the US Department of the Treasury, told Business Insider last year. “You can't ignore the fact that the Turks helped Iran with a massive sanctions-busting scheme.”

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Iran Iran Sanctions Turkey