China’s Kunlun Bank launches branch in Iran

IRNA – The deputy chairman of Iran’s Chamber of Commerce, Industries, Mining and Trade announced that Kunlun Bank of China had started its activities in Iran.

“Kunlun Bank of China has announced that by the end of the year it will continue its banking transactions with Iran, only with the use of Yuan, with full compliance with US sanctions on commodities, individuals, transport companies and banks,” Pedram Soltanifar wrote on his Twitter post.

Kunlun is the only Chinese bank that works with Iran.