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Obama administration looks to cut Iran’s access to gold
Question of the Day
The remark came after Rep. Edward R. Royce, California Republican and the Foreign Affairs Committee’s chairman, asked whether the administration was aware of recent reports indicating an uptick in the flow of gold into Iran.
“With its currency now in free fall, the Iranians desperately need gold,” said Mr. Royce, who noted that a U.S. law authorizing the Obama administration to sanction anyone selling gold to citizens inside Iran does not take effect until July 1.
While Mr. Cohen acknowledged that U.S. authorities have “no question that there is gold going from Turkey to Iran,” he said that “in large measure what we’re seeing is private Iranian citizens buying gold as a protection to the falling value” of Iran’s currency, the rial.
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About the Author
Guy Taylor rejoined The Washington Times in 2011 as the State Department correspondent.
As a freelance journalist, Taylor’s work was supported by the Pulitzer Center on Crisis Reporting and the Fund For Investigative Journalism, and his stories appeared in a variety publications, from the St. Louis Post-Dispatch to Salon, Reason, Prospect Magazine of London, the Daily Star of Beirut, the ...
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