U.S. Iran sanction bid shows some progress

BEIJING, Dec. 6 (UPI) -- U.S. pressure on China to impose financial sanctions on Iran over its nuclear program appears to be having some effect, a Beijing report says.

However, the Financial Times said, U.S. pressure has had no impact on Iran's big-ticket exports to China, such as oil, petrochemicals and minerals.

Quoting unnamed sources, the report says Iranians who import Chinese goods are complaining about restrictions on some trade items. Some banks that routinely opened letters of credit to underwrite business with China, Iran's biggest trading partner, reportedly now refuse to do so.

Among these banks, one source said, are those that have become "very nervous and are reluctant to deal with Iran directly."