China's Bank of Kunlun cooperates with Iranian side under certain conditions

Business Materials 27 January 2019 12:45 (UTC +04:00)

Baku, Azerbaijan, Jan. 27

By Elnur Baghishov – Trend:

China's Bank of Kunlun may carry out financial transactions with Iranian banks that are not on the list of sanctions and have letters of credit, Member of the Delegation of Iran's Tehran Chamber of Commerce Faryal Mustufi said.

If an Iranian bank is on the list of sanctions, financial transactions must be carried through another bank, Mustufi said, Trend reports referring to the Young Journalists Club.

After the US imposed sanctions on Iran, financial transactions between Bank of Kunlun and Iranian businessmen were restricted, he added.

So, the decision was made to choose other bank, Mustufi said.

The businessmen appealed to the members of the Tehran Chamber of Commerce and restrictions remain in effect, he added.