European wheat exporters have said Iran is seeking to close grain purchases using gold and oil as payment, and has paid in
yen for a large volume of wheat in its first deal since Western sanctions against Tehran started choking imports of food staples, Reuters has reported. Iran bought at least 200,000 tonnes of soft wheat on the world market last week for prompt delivery from private sellers - mostly of Australian origin - but some traders said the US could possibly account for part of the volume. The sanctions have drastically cut Iran's ability to obtain euro and
dollar denominated financing, forcing Tehran to find alternative ways to pay for its imports.
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