The shift underscores the current US administration’s disdain for a landmark nuclear deal which should have reconnected Iran to the international banking system.

Analysts and governments have warned of a bubble which could burst at any moment and some of them have likened trading in bitcoins to Ponzy schemes.

Removing the dollar in Iran-China trade was on top of the agenda of the recent visit to Tehran by Chen Yuan, a former key banker and the current vice-chairman of the Chinese People's Political Consultative Conference.  

Israeli daily The Jerusalem Post had claimed on Friday that Germany's Federal Financial Supervisory Authority (BaFin) had announced a credit ban on Iran's Bank Sepah.

Iran and Turkey have finalized what could be a historic deal to trade in their local currencies instead of the euro and the dollar.  

Iran has signed its first banking deals with European partners since western sanctions on Tehran were lifted in January 2016.

Private lenders from Iran and South Korea have signed an agreement to cooperate over banking issue with each other.

Head of the Organization for Investment, Economic and Technical Assistance Mohammad dismisses claims that the credit lines will leave the country in the red.

German authorities officially open a probe against four Swiss financial spies.

Iran's foreign minister slams US government for trying to disrupt the country’s cooperation with international banks.