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Sputnik — US Sanctions Continue to Backfire: China Opens $10 Billion Credit Line for Iran

Summary:
Assisting Tehran with sidestepping an ongoing Washington sanctions regime against the country, China has opened a billion line of credit intended to finance energy, transportation, water and other key Iranian infrastructure projects.… The significant credit line will primarily use euros and yuan to bypass the US sanctions.... Sputnik InternationalUS Sanctions Continue to Backfire: China Opens Billion Credit Line for Iran

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Assisting Tehran with sidestepping an ongoing Washington sanctions regime against the country, China has opened a $10 billion line of credit intended to finance energy, transportation, water and other key Iranian infrastructure projects.…
The significant credit line will primarily use euros and yuan to bypass the US sanctions....
Mike Norman
Mike Norman is an economist and veteran trader whose career has spanned over 30 years on Wall Street. He is a former member and trader on the CME, NYMEX, COMEX and NYFE and he managed money for one of the largest hedge funds and ran a prop trading desk for Credit Suisse.

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