Bank of Kunlun

Originally established as the Karamay City Commercial Bank in 2006, it was restructured and renamed Bank of Kunlun in 2009 after a capital injection by China National Petroleum Corporation (CNPC), which became its controlling shareholder. The bank's mission is to serve China's energy industry, providing a full suite of commercial banking services including corporate finance, personal banking, and international settlements. It has gained international prominence as the primary Chinese financial channel for processing billions of dollars in oil payments to Iran, a role that has subjected it to international scrutiny and sanctions.