“Turkey is Iran’s biggest natural gas customer but Western sanctions prevent it from paying Tehran in dollars or euros. Iran is instead paid in Turkish lira – of limited value on international markets but ideal for buying gold in Turkey.  Couriers carrying millions of dollars worth of gold bullion in their luggage have been flying from Istanbul to Dubai, where the gold is shipped to Iran, industry sources with knowledge of the business told Reuters last year.  New sanctions are due to take effect in February and could include measures to try to curb the trade.”

http://www.reuters.com/article/2013/01/04/turkey-gold-exports-idUSL5E9C466F20130104

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