🔺How does the Islamic Republic and China evade sanctions for trade, including military equipment?

🔺How does the Islamic Republic and China evade sanctions for trade, including military equipment?

▪ Reuters reports that the Islamic Republic uses a mechanism similar to barter to evade sanctions on oil exports and purchases of billions of dollars’ worth of goods from China, including military equipment.

▪ Five informed Iranian and foreign sources told Reuters that under this secretive mechanism, Iran’s oil is exchanged in return for purchase credit for goods from China; so that in recent years, alongside the intensification of both economic and military pressure by the United States on Tehran, it has provided a vital financial channel for the Islamic Republic.

▪ According to this report, it is estimated that between $2 and $2.5 billion may have been moved through this mechanism over the past year.