The People's Bank of China (PBOC), the country's central bank, renewed a bilateral currency swap agreement with the Central Bank of Iceland on Wednesday.
The agreement is worth 3.5 billion yuan (about 493.18 million U.S. dollars), or 70 billion Icelandic krona, the PBOC said in a statement.
The agreement is valid for five years. It will strengthen financial cooperation between China and Iceland, facilitate bilateral trade and investment, and safeguard financial market stability, the statement added.
China, Iceland renew currency swap agreement
U.S. President Donald Trump and his team are weighing "a range of options" to acquire Denmark's Greenland, including "utilizing the U.S. military," a senior U.S. official said on Tuesday.
The president and his team are discussing a range of options to pursue this important foreign policy goal, including purchasing the territory from Denmark, establishing a free association agreement with Greenland, and utilizing the U.S. military, according to the official.
The official said that Trump would like to acquire Greenland during his current term, and that the issue of acquiring Greenland by the U.S. will not disappear.
According to a White House statement, acquiring Greenland is a national security priority of the United States, despite the opposition of some NATO leaders, adding that Trump is actively seeking to reach an agreement.
On the same day, U.S. Secretary of State Marco Rubio told lawmakers in a classified briefing that Trump administration's current tough stance on Greenland did not signal an imminent military action and that the core goal is to buy the island from Denmark.
Trump weighs options to acquire Greenland including use of U.S. military: U.S. official
