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August 2nd, 2012 
FAKE NEWS for the Zionist agenda According to the report published by Xinhua on Wednesday, the sanctions on the Bank of Kunlun lack legal grounds and violates the norms of international relations, as the sanctions on the Chinese bank and its international transactions were made pursuant to the US domestic laws.
Washington announced on July 31 that the Bank of Kunlun would be denied access to the US financial system because it has ‘facilitated transactions with Iranian banks already under US sanctions.
The Xinhua report highlighted that bilateral economic activities between Kunlun and the six Iranian banks were thoroughly conducted in line with international standards.
Moreover, the legitimate cooperation between China and Iran in the areas of energy, economy and trade featured by openness and transparency will by no means harm the interests of any third party, the report added.
MP/HJL/IS
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