China has opened a credit line of $ 10,000 million to fund infrastructure projects in the Persian country. This leaves in 'wet paper' sanctions approved by Washington against Tehran.
According to the president of the Central Bank of Iran, Valiollá Seif , the state - investment China CITIC opened a line of credit in euros and yuan to several Iranian banks to finance projects undertaken by Tehran in the fields of energy, transport and other infrastructure projects.
© AFP 2017 / STR
China credits are part of the project of the New Silk Road devised by Xi Jinping and provides for the creation of a global network transport one to China and Europe.
Beijing is the world 's largest importer of Iranian oil and also absorbs a third of exports from Tehran.
Previously, Beijing opened two credit lines to Iran worth 4.200 million dollars that were used to build railways between Tehran and the cities of Mashhad and Isfahan.
For now, Western banks are wary of addressing this issue, especially after Washington imposed sanctions on Tehran, freeze assets of the Persian country and limit its financial transfers.
Thanks to Chinese investments , these restrictions have become useless. In fact Beijing is not the only country that wants to invest in the Persian economy.
Austria, Denmark and Germany also shuffled this possibility as they progress negotiations between banks and their Tehran on opening a credit line of 22.000 million.
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