China, Iran trade and military partnership

Why is it in news?
  • Iran and China have proposed a sweeping economic and security partnership
Details:
  • This will clear the way for billions of dollars of Chinese investments in energy and other sectors like banking, telecommunications, ports, railways.
  • In exchange, China would receive a regular supply of Iranian oil over the next 25 years.
  • It also proposes deepening military cooperation, potentially giving China a foothold in a region that has been a strategic preoccupation of the United States for decades.
Posted by Jawwad Kazi on 13th Jul 2020
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