Turkey looking at new trade mechanisms with Iran to avoid US sanctions
Turkey is looking into establishing new trade mechanisms with Iran to avoid US sanctions reimposed last year on exports of Iranian oil.
This was stated by Turkish Foreign Minister Mevlut Cavusoglu at a news conference after talks with his Iranian counterpart Javad Zarif in Ankara.
Cavusoglu reiterated Turkey’s opposition to the sanctions and said Ankara and Iran need to keep working to raise their bilateral trade to a target of thirty billion dollar, around triple of the current levels.
France, Germany and Britain have opened a new channel for non-dollar trade with Iran to avert sanctions, dubbed The Instrument In Support Of Trade Exchanges.