NEWS
ECONOMY   Banks  

Iran-China Banking Obstacles Cleared: Official

The head of Iran-China Joint Chamber of Commerce said the hurdles in banking transactions between Tehran and Beijing have been cleared.

In an interview with Tasnim, Asadollah Asgaroladi said problems faced by Iranian merchants in trading with China have been resolved.

“As of December 2, a Chinese bank will begin banking transactions with Iran,” he added.

According to Asgaroladi, Iran’s oil sales to China will start next week and Tehran will begin receiving the oil income within the next month.

He also said that China is planned to announce a second bank for interaction with Iran next month.

His comments came a few days after reports that China will restart loading Iranian crude in November 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.

The nation’s decision to restart purchases precedes an upcoming meeting between Chinese President Xi Jinping and US President Donald Trump at the Group of 20 summit later this week and coincides with flaring trade tensions between the world’s two largest economies.

News No: 2755
Date: 2018/11/30 - 14:54
News Source: Tasnim News Agency

China  Beijing  Xi Jinping  Asadollah Asgaroladi 

Comments:

Leave a Comment:

   
   
   
 

China’s Graphite Electrodes Industry Performance in Q1 2019

It seems that the Graphite electrodes shortage that has cropped up in China in the latter of 2017 amid closure of polluting GE units seems to settle out as considerable surge have been recorded in country’s electrodes production as well as exports for the first quarter of 2019.
 

What is driving Up China’s Steel Output amid Production Restrictions?

According to the latest data from the National Bureau of Statistics, China's daily average crude steel output in April 2019 was 2,834,300 tonnes, breaking the record high average of 2,694,800 tonnes per day of crude steel output in September 2018.
 

Oil Up on Escalating Tensions

Oil prices rose on Tuesday on escalating US-Iran tensions and amid expectations that producer club OPEC will continue to withhold supply this year.
 

What soaring iron ore and faltering copper say about China — opinion

The iron ore market is on a surge, the price last week punching up through the $100-per tonne level for the first time in five years.
 

China Steel Market Highlights - Week 20, 2019

This week Chinese steel prices softened amid deprecation of nation’s currency Yuan against USD. Meanwhile USA govt imposed tariffs of 25% on $200 billion worth of Chinese imports. This resulted to pessimistic market sentiments and in turn weakened export offers from China.
 

Brazil: Vale Warns of Another Dam Burst; Iron Ore Prices Cross USD 100

Spot iron ore fines Fe 62% index has picked up to USD 100.4/MT, CNF China as against USD 98/MT, CNF China yesterday. The increase is due to Vale forecast of dam rupture in next week. The prices have hit 5 years high as the prices were last seen in May'14.
Upcoming Events
Publications
 Mines & Metals

Mine & Business Today

 Scrap & Recycling

Ahangan

Our partners