Friday, February 10, 2012

Reuters: Iranians turn to barder for food as sanctions cripple imports

(Reuters) - Iran is turning to barter - offering gold bullion in overseas vaults or tankerloads of oil - in return for food as new financial sanctions have hurt its ability to import basic staples for its 74 million people, commodities traders said Thursday.

Difficulty paying for urgent import needs has contributed to sharp rises in the prices of basic foodstuffs, causing hardship for Iranians with just weeks to go before an election seen as a referendum on President Mahmoud Ahmadinejad's economic policies.

New sanctions imposed by the United States and European Union to punish Iran for its nuclear program do not bar firms from selling Iran food but they make it difficult to carry out the international financial transactions needed to pay for it.
Read the rest here.


Judge373 said...

Imposing sanctions which only serve to starve average Iranians hardly seems like the rational way to foment regime change in Iran. It will only further radicalize their hatred of the US.

Matthew M said...

Isn't it "barter"/ Me thinks so. it will only cause more anti-west feelings and pro-Islamic actions.

Weza gettin' in deep doodoo JarJar!

So much for Obama the peaceloving Muslim! He's going to get us into another war.