http://rt.com/news/iran-india-gold-oil-543/Both India and China, two major buyers of Iranian oil accounting for 22 and 13 percent of its total export respectively, have refused to join such sanctions. This means they have to establish a reliable way of paying for crude, independently of the parts of the global financial system controlled by New York and London.
Carrying all that gold around... what a nuisance.
Only a matter of time when bitcoin is used instead.