Iran will be barred from accepting gold as payment for oilSubmitted by Calgary4Paul on Sun, 11/24/2013 - 15:44
"In return, Iran will be able to repatriate $4.2 billion in frozen assets, the Obama administration said. The accord will “suspend certain sanctions on gold and precious metals, Iran’s auto sector and Iran’s petrochemical exports, potentially providing Iran approximately $1.5 billion in revenue,” the administration said.
The accord also provides $400 million in tuition payments to schools for Iranian students studying abroad, and will allow access to civilian aircraft parts.
Some curbs on gold trading also will be removed. While Iran will be allowed to buy and sell precious metals, including gold, it will be barred from accepting them as payment for oil or any other sanctioned transaction, according to the officials. Iran sits on the world’s fourth-largest proven oil reserves."