Facing U.S. pressures on its banking channels, Iran’s economic minister said agreements were made with China to use their national currencies for trade. Iran’s banking channels could be impacted by the sanctions pressures that would leave the country “battling to keep its economy alive,” U.S. Secretary of State Mike Pompeo has said. In an effort to facilitate economic openness, the Central Bank of Iran in April opened a line of credit with Turkey that could give Iran a way to continue trading. And in late May, after U.S. President Donald Trump pulled his country out of the multilateral nuclear deal, the European Union introduced a blocking statute to protect companies from U.S. sanctions and opened the door to working […]