US Gold Sanctions on Iran and Its Possible Consequences Evaluation Note / Seda Kırdar

"Like 2012, 2013 started as a year in which Iran has been increasing the tension between her and the western world day by day due to its nuclear program.  Reviewing the earlier sanctions on Iran, the US saw that the regulations created a wider mobility area for Iran than predicted. Last year a new set of sanctions was issued which bans sale of precious metals to Iran in order to end Iran’s procedure of “gold for gas” to get rid of western world’s sanctions. Like previous sanctions, this sanctions bill was constituted by Democrat Senator Robert Menendez and his Republican colleague Mark Kirk. The sanctions bill was submitted to the Senate to be annexed to the annual defense bill. On 30 November 2012, the motion was passed by Senate by 94 against 0 votes, and was included in annual defense bill. With the House and Senate both passing the annual defense bill, it was signed by President Obama, and thus, new regulations on Iran which would include gold sanctions came into effect..."