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Iran employs Chinese currency to counter US influence
A report by The Wall Street Journal revealed that Iran is increasingly relying on the Chinese financial system and the yuan to bypass U.S. sanctions. Iran uses the yuan to sell oil and conduct trade indirectly, allowing it to evade American restrictions and make billions of dollars annually. China has developed a cross-border payment system and the "mBridge" platform to promote the use of the yuan and reduce dependence on the dollar, thereby weakening Washington’s ability to enforce sanctions. Although China denies direct support for Iran, financial interactions between the two countries appear to be expanding, especially since U.S. sanctions on Iran have intensified.
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