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What Does Closer Cooperation between China and Iran Mean?

What Does Closer Cooperation between China and Iran Mean?

A close up image of a green Iranian ten thousand rial bank note with a red, one hundred yuan Chinese renminbi note in macro

Iran and China are reportedly moving forward with an economic and security agreement that could pose a significant challenge to US efforts to isolate and sanction Tehran over its nuclear program.  The proposed agreement, reported last week by The New York Times “would vastly expand Chinese presence in banking, telecommunication, ports, railways and dozens of other projects” that could also include oil delivery and military cooperation. 

Iran has been under significant financial pressure since the US withdrew from the nuclear deal and began to reinstate sanctions.

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