Turkey says it will not abide by renewed sanctions on Iran

By Kitco News / November 06, 2018 / www.kitco.com / Article Link

ANKARA (Reuters) - President Tayyip Erdogan said on Tuesday Turkey would not abide by the renewed U.S. sanctions on Iran’s oil and shipping industries, adding that they were aimed at “unbalancing the world”.

The comments came a day after Washington reimposed sanctions on Iran, abandoning a 2015 deal between world powers and Iran over its nuclear program. The U.S. measures temporarily allow some major customers, including Turkey, to continue buying Iranian crude.

Speaking to reporters in parliament, the Turkish president attacked the sanctions.

“These are steps aimed at unbalancing the world. We don’t want to live in an imperialist world. These issues will be put on the table at the summit (this weekend) in Paris,” Erdogan said.

“We will absolutely not abide by such sanctions. We buy 10 billion cubic meters of natural gas. We cannot freeze our people in the cold.”

Speaking in Japan earlier on Tuesday, Turkey’s foreign minister said it would be dangerous to isolate Iran, adding that it was not easy for countries like Turkey and Japan to diversify energy supplies.

“We do not believe any result can be reached with sanctions. I think meaningful dialogue and talks are more useful than sanctions,” Mevlut Cavusoglu said.

U.S. President Donald Trump aims to hit Iran’s economy and force it to abandon not only its nuclear ambitions and ballistic missile program but also its support for militant proxies in Syria, Yemen, Lebanon and other parts of the Middle East.

Erdogan will attend a summit to commemorate the end of World War I in Paris over the weekend, where he is expected to have talks with Trump over issues including the renewed sanctions and policy in Syria.

Additional reporting by Ece Toksabay, Ali Kucukgocmen and Tuvan Gumrukcu; Editing by Dominic Evans and Andrew Roche

Disclaimer: The views expressed in this article are those of the author and may not reflect those of Kitco Metals Inc. The author has made every effort to ensure accuracy of information provided; however, neither Kitco Metals Inc. nor the author can guarantee such accuracy. This article is strictly for informational purposes only. It is not a solicitation to make any exchange in commodities, securities or other financial instruments. Kitco Metals Inc. and the author of this article do not accept culpability for losses and/ or damages arising from the use of this publication.
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