Chinese President Xi Jinping visiting Iranian President Ebrahim Raisi in February 2023. picture alliance / Xinhua News Agency | Yan Yan
According to a report by the Iranian news agency Tasnim, Chinese investments in Iran have increased tenfold from $200 million (186 million euros) to two billion dollars (1.86 billion euros).
China remains economically important to Tehran as a major buyer of Iranian oil with a cooperation agreement signed in 2021.
In the face of international sanctions, the Iranian leadership has strengthened its relations with Russia and China.
Chinese investments in Iran have increased tenfold in a year. This emerges from a current report by the Iranian news agency “Tasnim”. According to the chairman of the Organization for Foreign Investment, China’s financial commitment increased from $200 million to $2 billion (from 186 million euros to 1.86 billion euros). China invested primarily in logistics, infrastructure and mining.
China is an important economic partner and buyer of Iranian oil. In 2021, both countries sealed a cooperation agreement lasting 25 years. At the same time, the Iranian leadership intensified its relations with sanctioned Russia and, according to Western findings, provided support in the Ukraine conflict. According to Tasnim, the most important investors in Iran include the United Arab Emirates and Turkey.
Iran is under sanctions because of its nuclear program. The government has therefore strengthened its ties to Russia and China in recent years, but at the same time has also been looking for new partners. The Islamic Republic is now a member of the Shanghai Cooperation Organization and has also been a member of the Brics since the beginning of the year. However, this strategy has also met with criticism in Iran, where many people would like to see improved relations with the West.
AA/dpa