21 Hrs
Source:
LBCI Lebanon
Iran sidesteps sanctions via oil-for-Chinese goods
The article cited statements from Iranian sources confirming Iran's use of a barter-like trading mechanism to circumvent U.S. sanctions imposed on its oil exports. Through this system, Tehran has been able to exchange oil with China in return for goods worth billions of dollars, including military equipment. Accounts designated for financing Chinese imports were used in the process. This operation has helped Iran secure a major financial resource in recent years, despite increasing American pressure. Additionally, it has allowed China to purchase Iranian oil at discounted prices and protected its exporting companies and banks from international sanctions.
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