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China has promised to invest $280 billion (£227 billion) in Iran’s beleaguered oil and gas industry, as it seeks to leverage Tehran’s isolation to set up a rival economic order to the West.
The investment pledge, which is to be spun out of a $400 billion outline agreement between the two countries agreed in 2016, was agreed in a visit to Beijing last week by Iran’s foreign minister, Mohammad Javad Zarif, according to the respected trade magazine Petroleum Economist. It will be planned in such a way as to minimise repercussions to Chinese companies...
The times.co.uk