(MENAFN) China allegedly owes Iran more than USD20 billion in outstanding oil payments, according to the latest reports.
The cash has been frozen in abroad banks after the US-led sanctions made it difficult for Beijing to transfer money to Tehran.
The two nations have touched a deal to settle some parts of the frozen money through China's funding of Iranian petchem schemes.
Additionally, both countries are more than willing to amend the hampered relations and reach a groundbreaking joint strategy.
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