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World

Historic Iran-China 25 year deal postponed until after the U.S. Election

  • Under the weight of international sanctions and domestic upheavals, Iran has visibly sought China’s financial and diplomatic support to mitigate their politically and economically strangulated role in the region, allegedly preparing a long-term (25 year) deal with the Chinese government.
21 Oct 2020

Under the weight of international sanctions and domestic upheavals, Iran has visibly sought China’s financial and diplomatic support to mitigate their politically and economically strangulated role in the region, allegedly preparing a long-term (25 year) deal with the Chinese government.

While there has not been any official announcement regarding this agreement, it has been speculated that it involves the deepening of bilateral economic and trade ties, promoting productivity through technology and tourism, strategic cooperation in the international diplomatic sphere, and developing military cooperation. In 2019, China became the largest importer of oil from Saudi Arabia, as it continues to grow its energy infrastructure - thereby making their gravitation towards Iran very likely, for the development of their oil, natural gas, and petrochemical interests.

Sources have reportedly suggested that China has postponed the signing of this long-term Iran-China agreement until after the U.S. election, as it would be contingent upon the outcome of the election itself - with Javed Zarif, Iran's Foreign Minister, being tasked with "getting China's signature under any circumstances".

Iranians have raised concerns about the dire implications of a long-term contract with China, with more recent examples of Sri Lanka, Kenya and Djibouti falling prey to China’s coercive economic strategies, which force developing countries into debt-traps and weakens their sovereignty. While Beijing has taken meaningful steps to help Iran, amidst crippling international sanctions, others have blamed the United States and the Trump Administration’s abrupt withdrawal from the Joint Comprehensive Plan of Action (JCPOA) or the Iran Nuclear Deal, and the re-imposition of sanctions for pushing Iran back into China’s grasp.