China buying oil from Iran using the Yuan, reveals Teheran ambassador in UAE

Tuesday, May 8th 2012 - 22:37 UTC

Full article 4 comments

China is buying crude oil from Iran using its currency the Yuan, an Iranian diplomat has said. Oil transactions are usually settled in dollars but US sanctions make it difficult for Iran to accept payments in the US currency. Read full article

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briton
one day, china will have its own problems and may well need help ,
what goes arround, will come arround .
May 08th, 2012 - 11:30 pm - Link - Report abuse 0
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Xect
China is the biggest economic/social bubble the world has ever seen. When it corrects it will correct itself on a truly epic scale which will be very bad for the world.

I really wouldn't like to be a country who relies on China buying from it.
May 09th, 2012 - 06:58 am - Link - Report abuse 0
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DennisA
The sanctions against Iran are foolish and punish the people. They are also counter-productive in pushing up energy costs for the West, whilst enriching speculators.
May 09th, 2012 - 11:31 am - Link - Report abuse 0
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sj_ken
US puts sanctions on Iran.
Iran drops oil prices to sell oil.
China buys oil from Iran at lower prices.
Maybe the US should start buying oil from Iran, at reduced prices, to reduce our oil import costs?
Sanctions are stupid!
May 10th, 2012 - 05:27 am - Link - Report abuse 0
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