ANKARA(BullionStreet): Contrary to earlier reports, Turkey again denied gold payments to Iran but said the Islamic Republic accounted for 60 percent of it's gold exports till November.
Turkish Economy Minister Zafer Caglayan said 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.
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 said from January to November 2012 Turkey exported gold worth $11.9 billion and $7.14 billion of that to Iran.He also underlined that during this period, Turkey's total exports amounted to $151.5 billion.
Earlier,Turkish deputy prime minister Ali Babacan confirmed gold payments to Iran as the country cannot give the payments in currency due to sanctions on Iran.
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.
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