Iran china cooperation

[krzepice1976]

Chinese companies can weather the first wave of unilateral US sanctions set to hit Iran on Tuesday by expanding the use of renminbi (RMB) in their transactions with Middle East countries, Chinese observers said Monday.

The US intends to fully enforce sanctions against Iran early this week on orders from US President Donald Trump, Secretary of State Mike Pompeo said Sunday, Reuters reported.

Chinese firms can bypass the blockade by expanding renminbi payments, a trend in staple products that was already occurring in China-Iran trade before the sanctions, Hua explained.

A last wave of US sanctions will hit Iran on November 4. Those sanctions target Iran's lucrative energy sector, petroleum-related transactions and transactions with the Central Bank of Iran, Xinhua News Agency reported in June.

Chinese firms will not be seriously affected until then, Tian noted.

China is Iran's biggest crude oil customer.
http://www.globaltimes.cn/content/1114128.shtml

 

[krzepice1976]

Iran’s state-run news agency IRNA has reported that China National Petroleum Corporation (CNPC), the world’s third-largest oil and gas firm, has replaced Total, the French energy giant, in the South Pars 11 project. “China National Petroleum Corp (CNPC) has replaced Total of France with an 80.1% stake in the phase 11 of the South Pars (gas field),” IRNA quoted Mohammad Mostafavi, director of investment of Iran’s state oil firm NIOC, as saying.


https://www.thehindu.com/news/international/china-to-expand-energy-footprint-in-iran/article24681672.ece