3 September 2012

Money moved from China to Iran in disregard of financial sanctions

According to prosecutors from the United States (US), there is evidence that Chinese banks may have disregarded the financial sanctions imposed on Iran. Chinese banks are suspected of moving large amounts of dollars on behalf of Iranian companies and banks. Last month, the US imposed sanctions against the ‘Bank of Kunlun’, because the bank ‘facilitated transactions worth millions of dollars on behalf of Iranian banks.’

Source: New York Times | Prosecutors Link Money From China to Iran