Chinese bank pulls out of Pakistan-Iran pipeline project

[RayKalm]

Reporting from Washington and Islamabad, Pakistan—


China'slargest bank has backed out of a deal to finance a proposed Iran-to-Pakistan gas pipeline that is opposed by the United States, a potential sign of the lengthening reach of U.S. economic sanctions on Iran.

Pakistani officials confirmed Wednesday that Industrial and Commercial Bank of China had withdrawn from plans to head a consortium that would finance the $1.6-billion Pakistani portion of the cross-border pipeline, apparently over concern that the bank could be excluded from the U.S. economy.

http://www.latimes.com/news/nationworld/world/la-fg-pakistan-china-pipeline-20120315,0,2392636.story

 

[RayKalm]

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[lem34]

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http://www.defence.pk/forums/world-...lout-pipeline-project-eyes-other-options.html

 

[Pak47]

Chinese government did not offer any assistance.
it was a private bank trying to strike a deal for financial profit. Banks just want Money they're a business.