China Suspends $66 Billion Finance For Iranian Projects

The chairman of the economic committee of the Iranian parliament says China has suspended $66 billion finance for Iranian projects.

Arsalan Fathipour added that "China wants to finance Iranian projects less than the amount Iran claims from the country. This is while it had agreed to provide Iran with double of the sum," the Tasnim news agency reported on July 27.

Meanwhile, the Central Bank of Iran cancelled the suspension of finance by China, saying negotiations are continuing with China.

Last November Iran announced that about $30 billion of its assets have been blocked by Chinese banks.

Iran tries to attract Chinese companies to finance Iranian projects as an approach to return the blocked assets.

Chinese companies are able to build wagons and railroads. But, there is an element of doubt as to whether they are capable to carry out secured high-tech railway projects successfully or not.(Cihan/Ria)