BAKU, Azerbaijan, July 12
By Elnur Baghishov – Trend:
Within the 25-year cooperation program between Iran and China, there is no question of Iran selling crude oil to China at 20-30 percent below world market prices, Chief of Staff of the President of Iran Mahmoud Vaezi said, Trend reports citing the Iranian government’s official website.
Vaezi said that Iran's oil sales are regulated domestically and a contract is signed.
He added that the details of the 25-year cooperation program between Iran and China have not been studied yet.
The official emphasized that the rumors that Iran has entrusted the Qeshm and Kish islands or tenders to China do not reflect the truth.
“The relations between Iran and China have strengthened over the past years, the amount of the two countries' trade turnover reaching $50 billion a year,” he said.
Iran's foreign trade amounted to $13.9 billion during the first three months of current Iranian year (March 20-June 20, 2020). The value of exports was $6.36 billion, and the value of imports was $7.62 billion. China ranks first in Iran's imports and exports.
As a result of US sanctions against Iran, Iran's oil exports have fallen sharply. Given that one of the main customers of Iranian oil is China, as a result of the sanctions, some experts suggest that Iran can sell oil to China at a price cheaper than in the world market.