Despite lifting of the anti-Iran sanctions, where China also played a leading role in the signing of the 2015 Joint Comprehensive Plan of Action, better known as the nuclear agreement, the U.S. under the Trump administration is accused of hindering implementation of the deal. Since the lifting of the nuclear-related sanctions in January 2016, China has opened up two credit lines worth $4.2 billion to build high-speed railway line that will link the Iranian cities of Tehran to Mashhad, located in Iran’s northeast, as well as Isfahan, in the country’s center. “Much of the investments will mostly involved the Iraqi [central] government. While they will be the ones getting the money from these investments, they will likely not invest it directly into disaffected communities,” Kinani said. In January 2016, Chinese leader Xi Jinping and Iran’s President Hassan Rouhani agreed to increase trade to $600 billion over the next ten years. “The Iraqi government is disappointed with the funding it gets from international donors, like the Americans, who have neglected the reconstruction issue. Us, Write / Zhang Duo / Xinhua. Loosening them would help the Iraqi government secure its wishes for Chinese investment, he added. At the same time, China is a major supplier of advanced weapons to Iran, including anti-ship cruise missiles, and has reportedly assisted Iran’s development of land attack cruise missiles. Natural gas supplied from the Caspian Sea region's countries accounted for the largest share of Turkey's imports in August as Russia, Azerbaijan, and Iran were top importers to the country. Baghdad is trying to entice China with oil to secure greater investment from Beijing. "Iraq is willing to continuously strengthen exchanges at all levels, deepen the strategic integration of each other's development strategies, enhance strategic cooperation under the framework of the Belt and Road Initiative and promote the new strategic partnership between Iraq and China," Salih said. Russia Pushes Ahead With Plans to Expand Gas Supplies To Asia. China’s bilateral trade with Iraq had surpassed $30 billion by 2018, with an increase of around 10% each year, said Zhang Tao, the Chinese ambassador to Iraq. Chinese investment in Iran . Chinese President Xi Jinping (R) meets with Iranian President Hassan Rouhani in Jakarta, capital of Indonesia, April 23, 2015. Chinese investment in Iraq provides gains for Baghdad, Beijing. All rights reserved. China’s investment in Iran has increased by 20-fold in the past four years, according to Iranian officials, and many see this figure as an indicator of just how good relations are between the Caspian country and the East Asian giant. "China is considered the biggest trading partner of Iraq, and Iraq is the second biggest oil supplier to China, and the fourth biggest trading partner of China in the Middle East," he added. The plant is due to be finished next year. Chinese officials started putting restrictions on Iranian nationals' bank accounts a few months ago, saying that the country was to follow international laws concerning money laundering and financial aid to terrorism via suspicious bank accounts. In September 2019, Petroleum Economist, relying on an unnamed source within Iran’s Oil Ministry, detailed a $400 billion Chinese investment under the deal in Iran’s oil, gas and transport … “The Chinese companies had near $2.3 billion of direct investment in Iran from 2014 till 2018, while the amount of [the Chinese] investments was $110 million from 1996 till 2014.” Mohammad Khazaie, an Iranian deputy economics minister who also serves as the head of the Iranian Investment Organization, said while addressing the third China-Iran Trade and Investment Opportunities Conference held in Tehran on January 30. February 01, 2020 The Looming Threat of Sanctions for Chinese Companies in Iran By Pan Yuanyuan. Iraqi prime minister trip to China has paved the ground for China to invest in Iraq. While receiving Zhang in early August, Iraqi President Barham Salih said that securing Chinese investment had long been Iraq’s goal and that Baghdad was hoping to secure greater Chinese ties. As Russia's relationship with the West reaches a new low, the world's largest country is now looking East to diversify gas exports to Asian markets. Iran and China have quietly drafted a sweeping economic and security partnership that would clear the way for billions of dollars of Chinese investments in energy and … You’re now subscribed to Al-Monitor. Iran and China will also cooperate in the “One Belt, One Road” initiative, the world's largest global trade network, stretching from China to Europe, including the construction of a high-speed railway in Iran. Hashimi said Iraqi bureaucratic restrictions are still an obstacle for free-flowing development aid from Beijing. Yet while Chinese investment may consolidate ties with the Iraqi central government, the financing may not immediately improve local communities. for Us. Russia and China have both sought to gain from Iraq’s oil and gas fields, as Baghdad has tried to operate on a similar development level as Iran. What lies ahead for the Korean Peninsula? The United States has more excuses than ever before to impose sanctions on Chinese companies doing business with Iran. Iraqi Prime Minister Adel Abdul Mahdi’s visit to China from Sept. 19-23 indicates a consolidation of an increasingly mutually beneficial relationship between the governments in Baghdad and Beijing, which the premier described as a “quantum leap.”. The giant deal with Iran would increase Chinese investments in Iranian banking, telecommunications, and transportation infrastructure including airports, railways and free … “Reopening of the bank accounts of the Iranians, many owners of which are traders and university students, started a week ago, after intensive talks held between the Iranian and the Chinese sides,” Hossein Yaqoubi, the Director General of the International Affairs Department at Iran’s Central Bank told IRNA on January 30. Iran’s foreign minister Mohammad Zarif recently met his Chinese counterpart Wang Li at the end of August to present a road map for the China-Iran comprehensive strategic partnership that … Al-Monitor - Intelligence on the trends shaping the Middle East. Meanwhile, if Chinese investment further stabilizes Iraqi security, this could further increase Beijing’s desires to sink money into the country. In early August, the China Construction Third Engineering Bureau signed a $1.39 billion deal to build medical, residential and education facilities across southern Iraq. Iraqi prime minister trip to China has paved the ground for China to invest in Iraq. Even after the nuclear deal, China shouldn't expect too much from economic ties with Iran. “The Chinese companies had near $2.3 billion of direct investment in Iran from 2014 till 2018, while the amount of [the Chinese] investments was $110 million from 1996 till 2014.” Sign up for the Week in Review newsletter. “One area that China is helping in is developing oil fields. While China has invested in international roads, highways and railway projects in Iraq in a drive to fulfill its Belt and Road Initiative goals, China’s reconstruction in Iraq has recently focused more on social infrastructure.
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