Iran and China signed a 25-year “Comprehensive Strategic Partnership” last month that is likely to result, among other things, in increased oil flow from Iran to the world’s second economic power and attract investment in Iran’s key industries.
The deal, signed by Foreign Minister Mohammad Javad Zarif and his visiting Chinese counterpart, Wang Yi, had been in the works since 2016 when President Xi Jinping became the first Chinese leader to visit Iran in more than a decade.
A draft of the accord that surfaced in the press a year ago revealed plans for long-term crude supplies to China in addition to that country’s investment in Iran’s oil, gas, petrochemical, renewables and nuclear energy infrastructure.
China is Iran's largest trading partner. Two-way trade surpassed $18 billion in 2020.
April 18, 2021 19:22
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Sino-Iran Ties in Perspective
Independent experts concur that the US’ most powerful trump card, the so-called maximum pressure policy, to force Iran to return to the nuclear deal on Washington’s terms has been seriously weakened by the Sino-Iran agreement.
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