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October 25, 2018       Share:    

Source: https://www.reuters.com/article/us-china-iran-banking-kunlun-exclusive/exclusive-as-u-s-sanctions-loom-chinas-bank-of-kunlun-to-stop-receiving-iran-payments-sources-idUSKCN1MX1KA

Report: Key Chinese Bank to Stop Dealing with Iran ahead of U.S. Sanctions

(Reuters) Chen Aizhu and Shu Zhang - The Bank of Kunlun, the key Chinese conduit for transactions with Iran, is set to halt handling payments from the Islamic Republic on Nov. 1 under pressure of imminent U.S. sanctions against the country, four sources said. The bank, controlled by the financial arm of Chinese state energy group CNPC, had already quietly suspended euro-denominated payments from Iran in late August, the sources said.

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