How Iran Plans To Use Gold Trade With Africa To Solve Its US Banking Sanctions

Gold trade with Africa has been one of the most profitable business ventures for foreign companies and immigrant billionaires. Tehran, the capital of Iran is seeking out potential solutions to preserve its gold trade with Africa by bartering its oil products for gold. The president of the Iran-Africa Council for Economic Cooperation, Mr.  Hassan Khosrowjerdi said with the US sanctions on its banking, Iran will face big challenges in trading with other countries. In his words, “This could be resolved by establishing barter mechanisms with other countries, including those in Africa by using bartering schemes to facilitate trade between Iran and Africa.”

Mr. Khosrowjerdi pointed out that the country is specifically interested in gold trade with Africa but no specific country has been mentioned in its plan to barter its products with gold. However, Ghana which is Africa’s second largest gold exporter after South Africa could be a primary target since Iran already exports a wide range of oil products to Ghana. The country which is said to have intensified its gold purchase in recent times has previously been purchasing gold from mainly the UAE and South Africa. With its banking problems, its best solution may be to expand its gold trade with other African countries which are primarily rich in gold produce.


Want to push your dreams in today’s great-people, good-nations, technology-driven, corruption-stricken, high-potential world? You must read Olatorera Oniru’s 2018 e-book titled Push Your Dreams available now on and on

The Olatorera Consultancy brand has grown from an ambitious solo-preneur to a team of over 50 people highly assertive on providing the seal and stamp of “Africa’s Best” to great businesses in Africa and beyond. Chief Executive Consultant, Olatorera Oniru is very passionate about seeing businesses succeed and operate optimally. She is also notably passionate about witnessing Africa transformed into one of the world’s greatest continents. Olatorera Consultancy has an annual outline of businesses we work with. We currently do not accept unsolicited applications. To network with the team at Olatorera Consultancy Limited, please add your company to the reviews page here. An Olatorera Consultancy company representative may be in touch with you shortly after reviewing your company’s readiness for business consultation services.

Some of the services we provide to our clients:

  • Doing Business In Africa: Data Analytics, Market Insights, Launch Plan & Strategy Development
  • Service Level Critique and Secret-Customer Detective Services
  • Customer Service, Quality & Operational Excellence Assurance
  • Seal of Africa’s Best and Nomination for Annual List of “Africa’s Best 100 Companies” and “Africa’s Best 100 Leaders”.

One thought on “How Iran Plans To Use Gold Trade With Africa To Solve Its US Banking Sanctions

Leave a Reply