Just a few days after President Clinton announced a beefed-up trade embargo on Iran, Turkey has inked a huge deal with the Islamic republic. Under the $20 billion agreement, Iran will supply Turkey with natural gas for 23 years. Although the deal has been in the works for a long time, the timing surprised observers because Turkey is a NATO member and a close ally of the U.S. Turkey's move seems yet another indication of how difficult it will be to isolate Iran.

Before it's here, it's on the Bloomberg Terminal. LEARN MORE