Wall Street Journal Alleges Details of Trade Dealings Between Iran and China
The English section of webangah News Agency, citing Mehr News Agency, reports that the American newspaper The Wall Street Journal alleges that despite US sanctions aimed at restricting Iran’s oil payments, China-the largest buyer of Iranian oil-has found a method to bypass Washington’s hostile measures. This approach enables continued purchases of crude oil worth billions of dollars.
the Wall Street Journal, quoting Western officials, claims Beijing uses a barter-like mechanism: exchanging Iranian crude for infrastructure built by China and circumventing the global banking system affected by sanctions.
This form of exchange has deepened economic ties between two key rivals of Washington.
According to the publication, official estimates indicate that in 2024 alone, up to $8.4 billion in oil revenues from this hidden pipeline have been used to finance Chinese projects within Iran. This represents part of an estimated $43 billion in Iranian exports, nearly 90 percent of which have gone to China.
The Wall Street Journal further asserts that two Chinese entities lie at the core of this system: Sinopecorp (Sinochem), a major state-owned export credit insurer, and Chooshin-a covert financial intermediary not listed among official Chinese financial firms.
These claims come despite The wall Street Journal providing no verifiable documents or evidence to support its allegations.
