'Since a week ago, Chinese banks have started reactivating the Iranians' bank accounts soon after they recognize the identities of the accounts' owners,', Hossein Yaqoubi, director-general of Central Bank of Iran's (CBI) international affairs told the Islamic Republic News Agency (IRNA).
China started putting restrictions on the Iranian nationals' bank accounts a few months ago. Beijing announced that the country was to follow the international laws focusing on fight against money laundering and financial aid to terrorism via suspicious bank accounts.
'Reopening of the bank accounts of the Iranians, many owners of which are traders and university students, started a week ago after intensive talks held between the Iranian and the Chinese sides,' Yaqoubi said.
Despite lifting of anti-Iran sanctions since January 2016, the US still hinders implementation of the July 2015 nuclear deal, officially known as the Joint Comprehensive Plan of Action (JCPOA), between Iran and the six world powers.
On the Iranians' bank accounts in the United Arab Emirates (UAE) which have also been affected recently by restrictions, the CBI official said the political stances of Iran and the UAE differ sharply from each other and the two countries also experience low level of political relations.
Iran is to find a substitute market for its banking relations, he concluded.
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