Tehran, Iran, Oct. 20
Trend:
Majid Reza Hariri, the deputy head of the Iran-China Chamber of Commerce, said the volume of trade exchange between Iran and China has grown by 10 percent.
“China has announced that they will continue to buy Iran’s oil despite the new US sanctions,” Hariri told ILNA on October 20.
The two countries’ contracts will remain in place after the sanctions kick in, he added.
Back in May, US President Donald Trump pulled his country out of the 2015 Iran nuclear deal, known as the Joint Comprehensive Plan of Action (JCPOA), despite objections from other signatories of the accord.
In August, Washington re-imposed the first round of anti-Iran sanctions it had lifted under the JCPOA. A second round, forthcoming on November 4, will be targeting Iran's energy sector and financial transactions.
Hariri said the volume of trade turnover between Tehran and Beijing witnessed a ten percent rise in the first half of the current Iranian calendar year (started March 21) compared to the same period last year.
He said the figure is expected to further grow after the sanctions.