Iran-China Oil Trade

Iran’s relationship with China extends to the ancient times of Sassanids and Parthians and can be traced back to the contact between Hans and the Parthians. The two lands were previously connected to each other through the Silk Road. The deepening of oil cooperation is mainly because China has always been a major partner of Iran during the period when economic sanctions have dealt a severe blow to the national economy. However oil cooperation has recently been devastated by a number of factors such as mutual suspicion between the two sides (indicating mutual lack of trust) competition in the global oil market and political factors. The main reason for imposing sanctions on the Iranian oil and gas sector is the country’s insistence on internationally banned nuclear activities...