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Iran to take Chinese subway cars for oil

Source: Mehr News Agency, Tehran

A senior Iranian official says the country has ordered 315 subway cars from China in place of payment for oil that can't be transferred due to sanctions.

Tehran Metro

Amir Jafarpour, who is deputy head of the Transportation and Fuel Management Committee, says officials were forced to order the coaches because billions of dollars of payments from crude oil exports to China have not been transferred to Iran because of sanctions.

Jafarpour is quoted by the conservative news website on Monday.

The U.S. and its allies have imposed oil and banking sanctions against Iran over its disputed nuclear program. Iran has frequently turned to barter arrangements because of sanctions-related difficulties with money transfers.

China is Iran's top crude oil importer.

... Payvand News - 07/31/13 ... --

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