Bank of Kunlun
In 2017, the U.S. state of Mississippi listed Bank of Kunlun on its state lists of Companies Doing Business with the Iranian Petroleum/Natural Gas, Nuclear and Military Sectors, rendering Bank of Kunlun ineligible for investment and/or state contracting.
In September 2017 – “The official referred to Bank of Kunlun Co Ltd, a China National Petroleum Corp unit, as "one of the longstanding business partners of Iran" that continued to work with the country even under sanctions.”
"...[A] Western intelligence report reviewed by Reuters says Shenzhen Lanhao is one of several companies in China that receives money from Iran through a Chinese bank. Such transfers help to finance international operations of the Islamic Revolutionary Guards Corps' elite Quds Force, the report said. The Quds provides arms, aid and training for pro-Iranian militant groups in the Middle East, such as Hezbollah, Hamas and Shi'ite Muslim militias in Iraq. They have also armed and trained government forces in Syria's civil war in violation of a U.N. arms embargo, U.S. and European officials say. Washington designated the Quds a supporter of terrorism in 2007. The European Union sanctioned them in 2011. The report said that the Central Bank of Iran (CBI) holds accounts with the Bank of Kunlun Co Ltd, a China National Petroleum Corp unit." (Reuters, "Exclusive: Iran uses China bank to transfer funds to Quds-linked companies – report," 11/17/14)
"Beijing reacted furiously Wednesday to new US sanctions imposed on a Chinese bank over transactions with Iran, urging Washington to revoke them and saying it would lodge an official protest. China's foreign ministry urged the United States to lift the sanctions on the Bank of Kunlun, which it said violated the 'norms of international relations' and damaged relations between Beijing and Washington. US President Barack Obama on Tuesday imposed new economic sanctions on Iran's oil export sector and on a pair of Chinese and Iraqi banks accused of doing business with Tehran . . . The US president accused the Bank of Kunlun and the Elaf Islamic Bank in Iraq of arranging transactions worth millions of dollars with Iranian banks already under sanctions because of alleged links to Tehran's weapons programme . . . Bank of Kunlun declined to comment on the announcement to impose sanctions." (AFP, "China hits back at new US sanctions over Iran," 8/1/12)
"Like Russia's First Czech-Russian Bank LLC and China's Bank of Kunlun Co. Ltd, they are typically small, obscure financial institutions often based in countries historically friendly to Iran... Bank of Kunlun didn't respond to requests for comment, and a representative at state-owned China National Petroleum Corp., which controls Bank of Kunlun, said he was unaware of the matter." (The Wall Street Journal, "Willing Banks Find Profits in Legal Trade With Iran," 4/8/2012)