BAKU, Azerbaijan, January 9. Iran's gold bullion imports have increased by 217 percent in value and 148 percent in weight terms under the current Iranian government (from August 22, 2024, through January 4, 2025) compared to the same period last year (August 23, 2023, through January 5, 2024).
The data obtained by Trend from the country's customs administration shows that 44.5 tons of gold bars worth $3.65 billion were imported to Iran during the mentioned period.
The gold bars made their way into the country primarily through the gates of Imam Khomeini International Airport customs, Bashmaq customs, and Tabriz customs.
Iran's imports of non-oil products for nine months of the current Iranian year (from March 20 through December 2024) amounted to 27.9 million tons worth about $50.9 billion. During the nine months, Iran's imports of non-oil products increased by 5 percent in value and decreased by 3.16 percent by weight compared to the same period of last year (from March 21 through December 21, 2023).
The new US sanctions imposed on Iran have made it much more difficult to import foreign currency (the US dollar) into the country. Iran prefers to use alternative means to avoid sanctions. In this direction, the Iranian government has created conditions for exporters of non-oil products to import gold bars into the country instead of foreign currency.
To note, in November 2018, the United States implemented a series of strategic sanctions targeting Iran. In recent times, the sanctions have significantly impacted Iranian oil exports, affecting over 700 banks, corporations, and individuals. The imposition of sanctions resulted in the immobilization of Iran's international assets.
