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China's Kunlun to stop accepting Iranian payments due to US sanctions

Bank of Kunlun Co, is set to stop accepting Iranian payments to China, the top buyer of Iranian oil, as US sanctions against Iran loom, sources who preferred not to mention their names told Reuters.

Sources said that Kunlun, which almost all oil payments go through, told his clients it will not accept the payments starting from November.
A Kunlun account manager said that payments sent after the date determined will be rejected, one of the sources said. The bank already halted euro-denominated payments from Iran in August, the sources added.

The time when the services will be resumed depends on the international situation after the US sanctions that are set to be imposed next November,” one of the sources, citing a message from her trade agent recounting what she had heard from the bank.
Last Modified: Wednesday، 24 October 2018 01:23 AM