Sydney (Platts)--8May2012/202 am EDT/602 GMT
Iran is accepting Chinese currency for some of the crude oil it supplies to China, partly as a consequence of US sanctions aimed at limiting Tehran's nuclear program, industry sources in Beijing and Kuwait as well as Dubai-based bankers told UK business newspaper The Financial Times. LINK...
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It seems the US sanctions are backfiring. As they say, "never bite the hand that feeds you." BK
