China and Iran: Partners Cement Ties
From the regime-run Fars News Agency of Iran, the headline reads, “Iran, China to Cement Cooperation.”
China’s oil giant Sinopec Group has signed a big gas deal worth 100 billion dollars with Iran. Known as the “deal of century” by energy experts, Sinopec is going to buy 250 million tons of natural gas in 30 years from Iran, and will help Iran to develop its giant Yadavaran oilfield in exchange for Tehran’s commitment of exporting 150,000 oil barrels per day to China for 25 years at market prices.
China’s economic initiatives in Iran go far beyond the energy field and include a wide spectrum of areas, ranging from infrastructure construction to trade and tourism. Beijing is helping Tehran to build dams, shipyards and many other projects. More than 100 Chinese state companies are operating in Iran to develop ports and airports in the major Iranian cities, mine-development projects and oil and gas infrastructures.
This while virtually the rest of the civilized world contemplates tougher and tougher sanctions against the epicenter of state sponsored international terrorism.