Iran-China Banking Ties Await EU Mechanism - Interview

Starting today (Thursday) all Chinese banks will suspend their dealings with Iran in response to the second round of US sanctions against the Islamic Republic due to take effect on November 4. 
The last remaining conduit, Bank of Kunlun, which had been set up to process Iran payments and is itself under US sanctions, is also expected to follow suit. 
Majid Reza Hariri, deputy president of Iran-China Chamber of Commerce and Industries told the Financial Tribune that Bank of Kunlun had notified Chinese exporters to conclude any unfinished business that they have with Iran before Nov. 1 because the bank would no longer "guarantee" such payments could be conducted after the aforementioned date.