China banks cut Iran business

China banks cut Iran business

www.gulf-daily-news.com

TEHRAN: Chinese banks have cut back business with Iranian banks due to US pressure over Tehran's nuclear programme, an Iranian Foreign Ministry official said.

The US has urged international banks and companies to stop dealing with or investing in Iran.

Many Western banks have either halted transactions with Iranian customers or reduced business with them sharply.

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China cuts banking ties with Iran?????

Well the sanctions might not be working, but it appears that Washington pressure, in this case, certainly is.

But again I ask, why are they pursuing this when our own National Intelligence Estimate concluded with moderate to high confidence that Iran stopped in 2003?

:shk:

www.gulf-daily-news.com
(visit the link for the full news article)

I guess this beats bombing them. Although, this is probably just a move to try and provoke them into some sort of desperate action. I am honestly surprised that China is siding with the US over Iran though. I thought that China and Russia were Iran's biggest supporters.

reply to post by Karlhungis


Some good points there.

Might it also be possible that in reality, this is just a coverup for what is really going on, to make the West THINK they are going along with Washington?

Because like you, I find it surprising. On the other hand, maybe it is no surprise at all when you look at the economic interest the Chinese maintain in the US, vs. the same in Iran. Remember, politics is a business. Forget the morals.

[edit on 4-2-2008 by TrueAmerican]