Switzerland & Iran developing payment channel to bypass US sanctions

A special financial mechanism aimed at maintaining trade ties between Switzerland and Iran is ready for implementation, according to Sharif Nezam-Mafi, the head of the countriesโ€™ joint chamber of commerce.
He told IRNA news agency that the clearing house will be used to facilitate Iranโ€™s oil transactions with its major Asian crude customers โ€“ namely India, China and South Korea.

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