China, Iran Deal Eyes a Future Decoupled from US

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In recent weeks, Iran and China have been hammering out the details of a potentially momentous cooperation deal meant to span the next quarter-century and chart a future decoupled from the United States.

Under the terms of a draft viewed by Asia Times, China will invest tens of billions of US dollars in Iran as part of Beijing’s ambitious Road and Belt Initiative. The 25-year agreement includes economic, security, and military dimensions.

Such a deal is particularly important for Iran’s ailing energy sector, which is in dire need of substantial investment to refurbish an aging oil industry, which requires upwards of $150 billion for much-needed modernization of wells, refineries and other infrastructure.Read More…


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