LONDON, July 24 (Reuters) – Iran and China are discussing using a barter system to exchange Iranian oil for Chinese goods and services, as U.S. sanctions have blocked China from paying at least $20 billion for oil, the Financial Times said.
The paper, citing people familiar with the problem, saidU.S. financial sanctions against Iran, which make it hard toconduct dollar-denominated business, meant China might owe theoil-rich country as much as $30 billion.
