Steel is Turkey's latest helping hand to Iran

[ekrem]

Turkey's importance as a trade conduit to Iran has widened to include supplying most of its steel as Turkish banks are among the very few still willing to arrange financing for the sanctions-hit country.

Despite sometimes strained political ties, trade between the two neighbours has risen sharply over the past decade, with Turkey regarded by some as a possible weak link in international sanctions imposed on Iran over Tehran's suspected development of nuclear weapons.

Iran is Turkey's biggest export market for gold while Turkey is Europe's only remaining importer of Iranian oil.

Steel is Turkey's latest helping hand to Iran | Reuters

 

[ekrem]

Turkey, 8th-largest iron & steel producer
Turkey became the world’s eighth-largest producer of iron and steel in the first half of this year, up from 15th in the world 10 years ago.

BUSINESS - Turkey, 8th-largest iron & steel producer

Turkey doubled its steel production since 2001.
2001: 15 million tons
Today: 34.1 million tons.

If the USA and other countries don't want to sell steel to Iran there's less compeition in Iranian market (~75 million people).