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China investment in Iran, hand putting money in piggybank on flag background

The US is pulling Iran and China closer together, which is a bad sign for the Americans

China to invest huge sums in Iran

China is looking to invest a large amount of money in Iran it now appears, as they are planning to invest $280 billion in Iran’s oil, gas, and petrochemical sectors that are being affected by US sanctions, according to Petroleum Economist magazine. The energy affairs magazine quoted a senior source who was linked to the Iranian Oil Ministry, as stating that this enormous investment represents a key point in a new agreement between the two countries. This was confirmed during Iranian foreign minister Mohammad Javad Zarif’s visit to China in late August, to present a roadmap for the strategic comprehensive partnership agreement, which concluded in 2016. The magazine also added that China additionally pledged to invest $120 billion in Iran’s oil sector and industrial infrastructure. In return for making the capital available, Chinese companies will be given the first refusal on oil and gas projects. For its part, Iran is hoping to improve its diplomatic and economic position and to relieve the economic pressure put on them by US sanctions, and this is definitely a large step towards that.

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