China’s power enables it to compensate for gap in Western fi...| MENAFN.COM

Thursday, 19 May 2022 03:47 GMT

China’s power enables it to compensate for gap in Western firms


(MENAFN) Hossein Askari reports to the Tehran Times, “China can help Iran and fill much of the gap left by Western companies but they invariably involve standing up to the U.S. and busting U.S. sanctions if the Vienna meetings do not lift most sanctions on Iran.”

His insights entail, “What Iran needs most from China is capital, direct investment, and access to Chinese banks to get around the restrictions imposed by U.S. sanctions that have restricted access of Iranian banks to receive and transfer funds through SWIFT.”

Askari further added that “China has capital, technology, and companies that could partner in Iran.”

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