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Obama administration looks to cut Iran’s access to gold
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 is the National Security Team Leader at The Washington Times, overseeing the paper’s State Department, Pentagon and intelligence community coverage. He’s also a frequent guest on The McLaughlin Group and C-SPAN.
His series on political, economic and security developments in Mexico won a 2012 Virginia Press Association award.
Prior to rejoining The Times in 2011, his work was ...
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