Iran, Thailand to Get Around U.S. Sanctions

“Trade between Thailand and Iran could not increase for a long time because of the sanctions,” Foreign Minister Surapong Towichukchaikul said in Tehran yesterday. “So we have to try other ways to boost our economic relations.”

Iranian Foreign Minister Ali Akbar Salehi met with Surapong and agreed with the idea, saying he would study the possibility of opening barter trade with Thailand.

Surapong said Thailand could exchange rice for oil and gas. Iran demands more than a million tonnes of rice annually while Thailand is seeking petroleum for domestic energy consumption.

“I think such an arrangement would have no problems with the US sanctions since we won’t conduct money transactions through any US entity,” he said. “The Americans should show some sympathy on this issue. Iran needs rice for food while Thailand, which has insufficient petroleum resources, wants energy.”
Iran consumes about 3.5 million tonnes of long-grain rice annually but can produce only 2.5 million tonnes.
Read Full Article