Iran, China Resume Banking Transactions
TEHRAN (Basirat) :Financial and banking transactions between Iran and China would resume as of Monday, vice chairman of Iran-China Joint Chamber of Commerce announced.
According to Mohammad Reza Hariri, the hurdles in banking transactions between
the two countries were cleared last week and financial transactions would
resume on Monday through China’s Bank of Kunlun, the key Chinese conduit for
transactions with Iranian banks.
Iran’s monthly imports from China stands at around $1 billion, the official
noted, saying the disruption to bilateral trade over the past two months -caused
by the US sanctions against Iran that took effect on November 4- has resulted in
the accumulation of remittances which amount to $2 billion.
There would be a heavy load of banking transactions during the first days of
resumption of banking ties, Hariri said, adding that the process of transactions
will turn to normal after a week or so.
The official expressed hope that other Chinese banks would also join the process
of financial interaction with Iran.
In November, reports suggested that China would restart loading Iranian
crude after it halted purchases in October.
The Chinese government had previously ordered at least two state-owned companies
to avoid buying Iranian oil in the lead-up to the November 4 sanctions review
deadline
Source:Tasnim