Iran evades US sanctions by paying with gold
Iran bought 200,000 tons of Australian, and possibly US, wheat last week with gold. Commodities traders say Iran is also pitching oil barter deals for grains.
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, European wheat exporters said.
http://www.csmonitor.com/World/Latest-News-Wires/2012/0209/Iran-evades-US-sanctions-by-paying-with-gold