(MENAFN) According to an Iranian deputy oil minister, China has extended USD20 billion in credit lines to implement Iranian oil industry projects, Iran Daily reported.
A proposal was made to Chinese oil officials suggesting that China's investment should be three times more than the Iranian capital held in Chinese banks and the proposal is being studied by China.
"So far, the amount of Chinese credit lines opened in Iran has always equaled the Iranian capital accumulated in Chinese banks. Currently, a portion of NDF's resources are still blocked in foreign banks," he said.
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