TEHRAN, Dec 16_China’s ambassador to Iran Chang Hua says the two countries have agreed on new banking mechanisms that could facilitate bilateral trade although he insists that the initiatives would remain confidential to avoid the American sanctions imposed on Iran.
TEHRAN, Young Journalists Club(YJC)_Hua told semi-official ILNA news agency on Monday that officials from Iran and China have been holding "regular meetings" to coordinate efforts that could facilitate banking and trade relations in the face of the US sanctions on Tehran.
He said the two sides have reached “some agreements” which they could not reveal any details about because of the sanctions.
The ambassador said it was better for both Iran and China to keep their banking ties confidential while insisting that banking issues were still the key obstacle in the was to strengthen the economic relations between the two countries.
Unconfirmed reports have shown that China, the top buyer of Iran’s oil over the years, has continued to import crude from Iran despite an outright ban imposed by the US on such trade since May 2019.