China guarantees to buy Iran crude for 25 years: Ex-envoy
[ Editor’s Note: As VT has editorialized, the Deep State unipolarism plan is backfiring, but with a catch. Sure, the bully pressure has pushed targeted countries to form new and stronger defense and economic relationships with any of the world’s other major powers, which for Iran are Russia and China.
The US dreams of colonizing the Persian Gulf with its junkyard dog Israel are just that, dreams. The 25 year deal with China put all the nails in the coffin on that.
Iran will have access to state of the art defensive weapons that it did not have, plus access to all of China and Russia’s technologies that it may need.
Iran will be able to pay, despite US sanctions, using the fast-developing bartering trade that is going on. As for the timing on this, China has also whacked S. Korea for its reneging on releasing the billions of Iran’s oil payment money due to US pressure.
South Korea’s long term credit will take a big hit, now that it has allowed the US have the final say over what bills it can’t pay.
Forget any idea of resolving these payment disputes in the UN, as that body has no procedures for dealing with members that are chiselers, especially unipolar ones, where being such should result in automatic loss of UN membership. Then there would be one less veto to deal with, which would mean Israel will lose its UNSC vote fixer… Jim W. Dean ]
– First published … July 19, 2020 –
A former Iranian ambassador to China says the East Asian country would guarantee to buy Iran’s oil for 25 years as part of a long-term partnership deal that is being negotiated between the two.
Mehdi Safari said in remarks published on Sunday that China is looking for a reliable supplier of energy as its imports of oil have more than doubled in six years to reach 11 million barrels per day (bpd).
Safari said China is already importing nearly half of its oil needs, around 5.5 million bpd, from the Persian Gulf region where Iran has the most dominant presence due to the length of its coasts on the sea.
“China says that it will guarantee, as part of a mutual guarantee, to buy Iran’s oil for the next 25 years,” Safari told the semi-official Tasnim news agency.
He said a main reason for China to seek a long-term energy partnership with Iran is the pressure imposed by the United States on the Chinese in the South East Asia region, prompting Beijing to increasingly look westward to revive the so-called new Silk Road through territories like Iran.
Safari said the comprehensive partnership deal with China could entail many benefits for Iran as well, including a surge in arrivals of Chinese tourists into the country.
“The Chinese send 250 million tourists (to other countries) each year, if only one million of them arrive in Iran, that would deeply change our economy,” said the former envoy.
Neither Iran nor China has given any concrete details about a potential long-term agreement that has yet to be finalized.
However, leaks have suggested that China would invest around $400 billion in Iran’s energy and infrastructure sectors over 25 years in return for taking delivery of a stable supply of energy from the Middle Eastern country.