BAKU, Azerbaijan, January 25. Iran imported a total of 24,500 kg of gold bars, worth $1.6 billion, during the first 10 months of the current Iranian year (March 21, 2023 through January 20, 2024), said Mohammad Rezvanifar, director general of the Islamic Republic of Iran Customs Administration (IRICA), Trend reports.
Rezvanifar noted that gold bars made up 2.9 percent of Iran’s total imports in 10 months.
“Of the total volume, 71.3 percent was imported via the customs of Imam Khomeini Airport, 18.6 percent via Bashmaq customs, and 7.53 percent via Tabriz customs,” he said.
The director general also pointed out that 5,400 kilograms of gold bars worth $352 million were imported to Iran in the 10th month (December 22, 2023 through January 20, 2024). Whereas in the same month of last year, the import stood at 176 kilograms of gold bars, valued at $9 million.
Overall, Iran imported 28.7 million tons of goods worth $48.3 billion in the first nine months of the current Iranian year (March 21 through December 21, 2023). This is an increase of 12.3 percent in value and 7 percent in volume compared to the same period last year.
Iran’s main import partners in this period were the UAE, China, Türkiye, Germany, and India. The main imported items were corn feed, mobile phones, and soybean seeds.
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 have 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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