Iran starts barter trade with China amid US sanctions
Iran has started using a barter-style trade system with China to bypass US sanctions. The arrangement allows Tehran to continue selling oil while avoiding parts of the global banking system. Iranian sources said the system also helps secure billions of dollars in Chinese goods. Two senior Iranian sources and people familiar with trade described the […]
Iran has started a barter-style trade system with China to bypass US sanctions. This arrangement allows Tehran to sell oil and secure billions of dollars in Chinese goods, including military gear, while avoiding parts of the global banking system.
The system exchanges Iranian oil for credits for Chinese imports, providing a financial lifeline for Tehran amid US economic and military pressure over its nuclear program. It also helps China retain access to discounted Iranian oil.
The US has imposed sanctions on some smaller Chinese entities that buy or facilitate shipments of Iranian oil. Treasury Secretary Scott Bessent warned countries to cut business ties with Iran or risk being forced out of the dollar-based financial system.
Brief written by urgent.news from Daily Times, Business Recorder — 2 reports on this story. Machine-written — may contain errors; check the original before relying on it.
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