September 8, 2019

DONALD WHO?:

A blow to Washington... China to invest $280 billion in Iranian sectors targeted by sanctions (MEM, September 7, 2019)

China is 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.

According to the magazine, Beijing also pledged to invest $120 billion in Iran's oil sector and industrial infrastructure.

Posted by at September 8, 2019 8:20 AM

  

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