China and Iran signs 25 year strategic cooperation accord

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With $400 Billion Iran Deal, Could Deepen Influence in Middleast
With $400 Billion Iran Deal, Could Deepen Influence in Middleast

China foreign minister Wang Yi has said that Iran solely pursues an independent foreign policy and does not succumb to any threats or external pressure.

“Iran decides independently on its relations with other countries and is not like some countries that change their outstanding position with one phone call,”

China while looking at tilted approach and submissive policy of PM Imran Khan PTI government towards IMF and its regressive, least interested, disappointing and callous response on China Multi billionaire CPEC project has at last shifted its geo-political interests towards Iran.

China and Iran signed a sweeping pact on Saturday that calls for heavy Chinese investments of $400 billion in Iran over 25 years in exchange for oil a step that would ease Iran’s international isolation.

The accord brings Iran into China’s Belt and Road Initiative, a multi-trillion-dollar infrastructure scheme intended to stretch from East Asia to Europe.

Chinese Foreign Minister Wang Yi said, “Relations between the two countries have now reached the level of strategic partnership and China seeks to comprehensively improve relations with Iran.”

China will invest $400 billion in Iran over 25 years in exchange for a steady supply of oil to boost its growing economy under a sweeping economic and security agreement signed on Saturday.

The deal would strengthen China’s influence in the Middle East and undermine USA efforts to keep Iran isolated.

Iranian foreign ministry spokesman Saeed Khatibzadeh termed the agreement as a “road map” for trade and economic and transportation cooperation, with a special focus on both countries’ private sectors.

The foreign ministers of both the countries, Javad Zarif and Wang Yi, signed the agreement during a ceremony at the foreign ministry in Tehran on Saturday.

“China firmly supports Iran in safeguarding its state sovereignty and national dignity,” Mr. Wang said in his meeting with President Hassan Rouhani.

Chinese $400 billion investment in Iran will be made in energy, banking, telecommunications, ports, railways, health care and information technology sectors, over the next 25 years. In exchange, China would receive a regular heavily discounted — supply of Iranian oil.