Business And Markets

Banking Restrictions Take Toll on China-Iran Trade

According to customs data from China, exports to Iran in January hit $722 million – down 58.3% compared on the same month in the previous year
Banking Restrictions Take Toll on Sino-Iran Trade
Banking Restrictions Take Toll on Sino-Iran Trade

China has been Iran's biggest trading partner and its export destination–although that position went briefly to Iraq in the second half of 2018– and Tehran continues to seek stronger ties with its "traditional ally."
Majlis Speaker Ali Larijani traveled to China late last month at the head of an economic-political delegation. The two sides signed 17 documents that call for building closer collaboration in economic, industrial and judicial fields.
But the latest official trade figures show, two-way bilateral trade has suffered as a result of the fallout from US sanctions and Beijing’s compliance with the new restrictions.


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