There will be no meeting of the Iran nuclear deal participants on the sidelines of the UN General Assembly this week, the EU and Iran have announced.
3 hours 1 sec ago
U.S. Treasury added Kunlun bank to the list of sanctions
Chinese Bank Joins Sanctions Against the Islamic Republic
Asadollah Asgar Oladi, the chairman of the joint chamber of commerce of Iran and China announced that Chinese banks and specifically the bank of Kunlun, the key Chinese conduit for transactions with Iran, have halted their service to Iranian businessmen and that is the reason for the suspension of exports to China.
Oladi said that Iran’s Central Bank is negotiating for a solution but so far, the negotiations have not been successful.
Majid Reza Hariri told IRNA News that in the first seven months of the Iranian year, non-oil exports from Iran to China had increased 20 percent. During the previous sanctions, China was one of the most important markets for Iran’s oil and non-oil products.
On October 31st, Bank of Kunlun was put on the sanction list by the Treasury of the United States. The bank ceased all dealings with Iran the next day.
The banking interactions have stopped three days before the second round of U.S sanctions go into effect.
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