Iran-China Barter System Bypasses Sanctions on Oil Sales
Iran has developed a barter system to circumvent sanctions on its oil sales, allowing it to acquire billions of dollars in goods from China.
The arrangement involves exchanging Iranian oil for credits that can be used to purchase Chinese imports, including military equipment. This trade mechanism has become crucial for Tehran as US economic pressures over its nuclear program have increased.
According to sources, the largest importer of crude oil, China, uses this system to access discounted Iranian oil without facing international penalties.
The US has imposed sanctions on some smaller Chinese companies involved in these transactions but has refrained from taking more severe actions that could affect the global economy.
This barter-like system enables Iran to acquire essential goods such as medicines, vehicles, and communication equipment from China. In some cases, this arrangement facilitated contracts for air defense equipment worth millions.