BAKU, Azerbaijan, June 27. Iran imported 3.26 tons of gold bars worth more than $202 million, during December 3, 2022 through June 18, 2023, Advisor to the Minister of Economic Affairs and Finance of Iran, Mehdi Mohammadi said, Trend reports.
Mohammadi noted that gold import increased after the Iranian government's decision on December 3, 2022, regarding the exemption of all taxes and duties on the import of gold bars into the country.
"Meanwhile, in the last Iranian year alone (March 21, 2022 through March 20, 2023), Iran imported 1.38 tons of gold bars worth approximately $81.4 million," he added.
The advisor also said that Iran imported about 1.88 tons of gold bars worth more than $121 million from the beginning of the current Iranian year (March 21, 2023) to June 19, 2023.
The new sanctions imposed by the US against Iran have made it extremely difficult to bring foreign currency (USD) to the country. That’s why Iran prefers to use alternative ways to avoid sanctions. In this regard, the Iranian government has created conditions for the exporters of non-oil products to import gold bars into the country instead of foreign currency.
On May 8, 2018, the US announced its withdrawal from the Joint Comprehensive Plan of Action (JCPOA) between Iran and the 5+1 group (Russia, China, the UK, France, the US, and Germany), and imposed new sanctions against Iran as of November 2018.
Over the past period, the sanctions affected Iranian oil exports, more than 700 banks, companies, and individuals. The sanctions have resulted in the freezing of Iranian assets abroad.
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