BAKU, Azerbaijan, September 4. Iran imported 4,102 kg of gold bars worth $265 million, during the first 5 months of the current Iranian year (March 21 through August 22, 2023), Trend reports.
According to the report of Islamic Republic of Iran Customs Administration (IRICA), Iran's gold bar imports accounted for 1.1 percent of the country's total import in 5 months.
Some 2,276 kg of gold bars were imported through the customs of Imam Khomeini Airport of Iran, which made up 55 percent of the total gold bars imported into the country.
Among the customs of the country, after Imam Khomeini airport customs, the largest amount of gold bars was imported through Bashmaq (1,167 kg) and Tabriz customs (560 kg).
Overall, Iran imported 14.4 million tons of goods worth $24.2 billion within the first 5 months of the current Iranian year.
This is an increase of 7.49 percent in value and 2.17 percent in volume compared to the same period last year.
The sanctions imposed by the US against Iran have made it extremely difficult to bring foreign currency (US dollars) to the country. 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 and more than 700 banks, companies, and individuals. The sanctions have resulted in the freezing of Iranian assets abroad.
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