Iran used oil-for-goods deals with China to bypass sanctions, sources say
The secretive trade mechanism has moved $2 billion to $2.5 billion in oil proceeds over the past year, sources said.
- Iran has utilized a clandestine barter-like arrangement to bypass US sanctions, exchanging oil for Chinese goods including military equipment, according to senior sources. This mechanism has provided a financial lifeline for Tehran amid intensified US pressure.
- Established in 2021, the system allows Tehran to acquire essential imports without utilizing international banking channels. China, purchasing over 80% of Iran's shipped oil, uses these arrangements to resist US economic coercion.
- Funds move through a China-based financial entity called ChuXin, with estimates showing between $2 billion and $2.5 billion moved through the network over the last year. Roughly 70% of proceeds are allocated to infrastructure projects.
- China's foreign ministry stated it was "not familiar with the situation you describe," reiterating opposition to unilateral sanctions. A US official noted the administration works with partners to "deprive Iran of the material means of furthering its nuclear ambitions."
- Andrea Ghiselli, an international politics lecturer at the University of Exeter, stated China employs these mechanisms to show it cannot be coerced by secondary sanctions. However, he noted Chinese leaders remain wary of having their banks excluded from the international financial system.
28 Articles
28 Articles
How Chinese Goods Reached Iran Despite Billions in Sanctions
Iran has created a barter-like system to bypass sanctions on its oil sales, allowing it to acquire billions of dollars in goods from China, including military equipment. This trade mechanism, where Iranian oil is exchanged for credits for Chinese imports, has become essential for Tehran as U.S. economic pressures over its nuclear program have increased. […]
Iran used oil-for-goods deals with China to bypass sanctions, sources say
Iran has long relied on China as its main oil customer. An investigation reveals how Tehran has turned oil revenues into Chinese goods, including millions of dollars' worth of air-defense equipment, while evading international scrutiny
The mechanism allows calculations to be made without direct payments by Iranian companies to Chinese suppliers through the international banking system.
(Cairo=Yonhap News) Correspondent Kim Sang-hoon = Iran is circumventing high-intensity U.S. economic sanctions by establishing a secret trade network with China based on a 'barter' system, and billions of dollars in [currency]...
EXCLUSIVE: How a billion-dollar sanctions dodge kept Chinese goods ...
Jerusalem Post
Iran dodges sanctions using barter system to buy billions of dollars of Chinese goods
The secretive trade mechanism, in which Iranian oil is exchanged for credits for Chinese imports, has provided a financial lifeline for Tehran in recent years.
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- 58% of the sources lean Right
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