国际英语资讯:Spotlight: Turkey seeks ways to continue trade with Iran amid U.S. sanctions_时事

国际英语资讯:Spotlight: Turkey seeks ways to continue trade with Iran amid U.S. sanctions

Speaking at the joint press conference on April 17, Cavusoglu said Turkey and Iran seek alternative mechanisms, such as the Instrument In Support Of Trade Exchanges, a non-dollar payment channel the EU has set up with Iran, in order to overcome U.S. sanctions and continue bilateral trade in a bid to reach a trade volume of 30 billion U.S. dollars.

Turkey will be negatively influenced in economy and in bilateral relations with Tehran if it ends its import of Iranian oil, as Iran is one of Turkey's leading suppliers of oil and gas, said Necdet Pamir, energy editor of Sigma Insight Turkey.

"Iran preferred to supply crude oil in more favorable conditions than their competitors, like less barrel price and more appropriate payment, for some countries, including Turkey, in order not to lose its market share," he said.

Turkey promotes using national currencies in international trade. In October 2017, the Turkish and Iranian central banks formally agreed to trade in their local currencies.

However, Ankara could hardly bypass U.S. sanctions and conduct trade with Iran due to political difficulties it has already been facing in bilateral relations with Washington, Pamir said.

"It will be difficult for Turkey to conduct a sustainable bartering system with Iran," he said.

The expert recalled Turkey's dispute with the United States over its decision to purchase Russian S-400 missile systems with fears that a standoff between the two NATO countries could lead to American sanctions which would exacerbate the economy in the country.