Sanctions negatively impact Iran’s economic ties with Turkey
By Sara Rajabova
The sanctions imposed on Iran negatively affected economic ties with Ankara.
Iranian ambassador to Turkey, Alireza Bigdeli made the remark in this article published by Turkish "Sabah" newspaper.
According to Bigdeli, the trade turnover between Ankara and Tehran could reach $ 30 billion if the embargo against Iran hadn't been imposed.
He said that Iran has lost $8 billion in trade transactions with Turkey because of the sanctions.
Bigdeli said despite the embargo against Iran, Iran's trade with Turkey amounted to $ 22 billion in 2012.
Meanwhile, Turkish Energy Minister Taner Yildiz said that Turkey could increase its oil imports from Iran to 130,000-140,000 barrels per day (bpd), from around 105,000 bpd in a gradual manner, if the sanctions against Iran ease.
Turkey dropped its oil imports from Iran from a previously contracted volume of 180,000 bpd in 2012 after a European Union embargo against Iran came into full force on July 1.
Iran is one of the five important countries that supplies gas to Turkey, and Turkey imports its major portion of oil from Iran. Iran is Turkey's second biggest oil supplier after Russia.
Yildiz also called Iran one of the most important countries in the world that has rich oil and gas resources, and said that Turkey will continue its projects in the energy sector.
He said earlier Turkey is also importing 10 billion cubic meters (bcm) of gas a year from Iran but would buy more if it were available.
Iran and six world powers reached a breakthrough deal early on November 24 on Tehran's nuclear program. The two sides have signed a joint "plan of action". The deal signed in Geneva suggests some softening on sanctions against Iran.
French Foreign Minister Laurent Fabius said that EU will likely lift some of the sanctions imposed against Iran in December following a deal between Tehran and the West.
EU sanctions on Iranian oil shipping insurance have already been lifted under the nuclear deal, member of Iran's Chamber of Commerce, Industry and Mines, Masoud Daneshmand said.
Previously, Iranian and international shipping companies were unable to carry Iran's oil due to sanctions.
At the beginning of 2012, the European Union placed an embargo on Iranian oil and petrochemicals exports, banned the trade of precious metals as well as transactions with the Central Bank of Iran and froze its assets across the bloc. The measures came into effect as of July 1, 2012.
The U.S. and its Western allies suspect Iran of developing nuclear weapons, something Iran denies. Iran has on numerous occasions stated that it does not seek to develop nuclear weapons but is using nuclear energy for medical research instead.