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Four Muslim nations consider gold, barter trade to beat future sanctions

Malaysia's Mahathir Mohamad urges Iran, Malaysia, Turkey and Qatar to be self-reliant against threats.

barter trade | Mahathir Mohamad | Organisation of Islamic Cooperation

Liz Lee | Reuters  |  Kuala Lumpur 

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. "With the world witnessing nations making unilateral decisions to impose such punitive measures, Malaysia and other nations must always bear in mind ...

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First Published: Sat, December 21 2019. 13:50 IST