South Korean trading firms have been barred from engaging in entrepot trade related to Iranian firms as local state-run banks suspended trade financing in a bid to join U.S.-led economic sanctions against Iran.
State-owned Woori Bank and the Industrial Bank of Korea (IBK) recently stopped providing related financing to local trading firms which were involved in intermediary trade linking Iranian firms and companies in China and other foreign nations.
For the source of this story, click here.
Join Asian Banking & Finance community
Since you're here...
...there are many ways you can work with us to advertise your company and connect to your customers. Our team can help you dight and create an advertising campaign, in print and digital, on this website and in print magazine.
We can also organize a real life or digital event for you and find thought leader speakers as well as industry leaders, who could be your potential partners, to join the event. We also run some awards programmes which give you an opportunity to be recognized for your achievements during the year and you can join this as a participant or a sponsor.
Let us help you drive your business forward with a good partnership!