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Iran Props Up Economy with Bartering, Secret Deals
(Reuters) Parisa Hafezi - Iran remains defiant in the face of U.S. efforts to compel it to accept tougher restrictions on its nuclear program and scale back support for proxy wars across the Middle East. In the face of U.S. sanctions, Iranian officials, business people and analysts say the country is resorting to bartering, smuggling and back-room deals through a network of traders, companies, exchange offices, and money collectors in different countries. "We are a rich country with long borders with so many countries," said an Iranian official. "If you sell anything below its market price, you can find dozens of buyers...and transfer the cash by land, sea or even through a third country." Iran is still exporting petrochemical products and liquefied petroleum gas to Asia, including to China and Malaysia.