China Trades Infrastructure Projects For Iranian Oil To Bypass US Sanctions
China Trades Infrastructure Projects For Iranian Oil To Bypass US Sanctions: Report
Iranian oil exports reached a peak in June despite Trump’s ‘maximum pressure’ campaign
China is purchasing billions of dollars’ worth of oil from Iran through a covert payment system that bypasses US sanctions by bartering oil in exchange for infrastructure projects, the Wall Street Journal (WSJ) reported on October 5.
“US sanctions make it nearly impossible to pay Iran for its oil. China has figured out how to do it anyway, in an arrangement that has largely been secret,” the WSJ wrote.
“The hidden funding conduit has deepened economic ties between the two US rivals in defiance of Washington’s efforts to isolate Iran.”
Upon coming to power in January, US President Donald Trump said he was imposing a “maximum pressure campaign” to stop Iran’s oil trade using economic sanctions.
However, Iranian exports reached a multiyear peak in June before the US and Israel’s 12-day war on the Islamic Republic.
SOURCE ➡️ The Cradle
