British media: Iran oil exports accept RMB settlement

According to the British "Financial Times" website reported that Tehran is using RMB for payment of goods and services imported from China, this currency is not yet freely convertible.

Senior industry officials in China and Kuwait and Dubai bankers said that Iran is part of the crude oil to China accept RMB settlement. Foreign media, which to a certain extent on the consequences of the sanctions imposed by the United States to curb Iran's nuclear program.

Industry officials said, the majority of China's oil exports from Iran to China United Oil Company and a company called Zhuhai Zhenrong trading company handling. The Chinese Union Oil trading company is a subsidiary of China National Petroleum Corporation.

According to industry estimates, the oil trade volume between the two countries reached 20 billion a year to $ 30 billion, but part of the form of barter. For example, Zhuhai Zhenrong Company provides drilling and other services to pay for the purchase of oil from Iran.

A few months ago, China began to use the yuan to buy Iranian oil. The oil industry officials and bankers pointed out that the initial, non-barter RMB account in Beijing, but due to pressure from the United States, the Bank of China's domestic banks have stopped trading with Iran.

They said that now a lot of trading funds by the Bank of Russia to Iran, which banks charge exorbitant commissions from.

The president of a bank in Dubai, said: "The global financial crisis has accelerated the shift from the West to the East, such measures (U.S. sanctions against Iran) will push to improve the acceptance of the RMB as a trading currency."

Reported that Beijing has been trying its trading partners to use RMB. It is reported that Iran's 21% of the crude oil export to China, so the endurance is essential to the U.S. unilateral sanctions for Tehran.