China and Iran cut a deal: “For Iran, China is a life raft saving it from total economic collapse under the weight of US economic sanctions”

ISRAEL HAYOM (by agreement with JNS)
Israel and the Sino-Iranian alliance
by Caroline Glick
July 17, 2020

…Following weeks of feverish rumors, Iran and China have concluded a strategic accord. Last weekend, the New York Times reported on the contents of a final draft of the agreement. In its opening line, China and Iran describe themselves as “two ancient Asian cultures, two partners in the sectors of trade, economy, politics, culture and security with a similar outlook and many mutual bilateral and multilateral interests.” Henceforth, they, “will consider one another strategic partners.” Substantively, the deal involves Iran supplying China with oil at below market prices for the next 25 years and China investing $400 billion in Iran over the same period. China committed to expanding its presence in the Iranian banking and telecommunication sectors. READ MORE

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