Assisting Tehran with sidestepping an ongoing Washington sanctions regime against the country, China has opened a $10 billion line of credit intended to finance energy, transportation, water and other key Iranian infrastructure projects.
Following the ground-breaking 2015 Joint Comprehensive Plan of Action (JCPOA) between Iran and Russia, the US, China, France, the UK, as well as Germany and the EU, to end its nascent nuclear weapons program, Tehran — in honoring the terms of the unprecedented treaty — has nonetheless seen Washington implement a host of new sanctions against the Middle Eastern country, including asset freezes and limits on global financial transfers.
According to Iranian Central Bank President Valiollah Seif, Chinese state-owned CITIC investment company has opened a $10 billion credit line to several banks in Iran to be used to fund wide-ranging infrastructure projects in the country, according to a report by the Times of Israel.
The significant credit line will primarily use euros and yuan to bypass the US sanctions….
Why ‘US Will Shoot Itself in the Foot’ in Case of New Sanctions Against Iran
Despite Washington’s persistent anti-Iranian policy, foreign investors will not turn away from the Iranian market, Iranian economic expert and journalist Ahmad Hadem Al-Melle told Sputnik. According to him, if there are new American sanctions against Iran they are unlikely to be supported by US allies.
After the final agreement on the Iranian nuclear program was signed and sanctions against Tehran were subsequently lifted, the country has been enjoying unprecedented investment flow into different parts of its economy. Western companies such as Siemens, Total, Volkswagen, Renault and Airbus are already running major projects in Iran….
And we’re supposed to believe this is just incompetence? No. There’s a huge “put” on this country and its investors have control of washington. This is disaster capitalism.