From November 4th, Kunlun Bank Suspended Receiving Payments From Iran

- Nov 22, 2018-

It is understood that with the impact of tariffs and political factors between countries, trade frictions in 2018 have become more intense. In August of this year, Kunlun Bank notified the suspension of the euro settlement. It is understood that the only formal way for Iran to collect foreign exchange is Kunlun Bank. As we all know, Kunlun Bank can use the euro, the renminbi and the US dollar to settle foreign exchanges in the early days. However, on July 13, 2012, the US Treasury Department announced that it would impose sanctions on China Kunlun Bank and closed the Kunlun Bank's US dollar settlement channel, which led to the settlement of only the euro and the RMB.

According to some sources, the Ningbo Kunlun Bank agency officially confirmed that the collection channel of Kunlun Bank was closed after November. This means that you can't accept any payments from Iran, and it's still unknown when it's turned on. The reason is that Iran’s economic sanctions imposed by the United States officially took effect in November.

SUNNYJOINT will pay attention to the news of Kunlun Bank.