Muslim nations consider gold, barter trade to beat sanctions


By Liz Lee
  • World
  • Saturday, 21 Dec 2019

FILE PHOTO: Malaysia's Prime Minister Mahathir Mohamad speaks during the signing ceremony for Bandar Malaysia in Putrajaya, Malaysia, December 17, 2019. REUTERS/Lim Huey Teng

KUALA LUMPUR (Reuters) - Iran, Malaysia, Turkey and Qatar are considering trading among themselves in gold and through a barter system as a hedge against any future economic sanctions on them, Malaysian Prime Minister Mahathir Mohamad said on Saturday.

At the end of an Islamic summit in Malaysia, Mahathir praised Iran and Qatar for withstanding economic embargoes and said it was important for the Muslim world to be self-reliant to face future threats.

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