Tuesday 23rd Jul 2019 

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News: Iran Economy

Iran flooded with cheap Chinese imports as payment for oil

NCRI - China is paying for 70% of its oil from Iran with goods - flooding the regime with cheap Chinese imports.

Iranian MP Seyed Sharif Hosseini revealed China had paid for oil 30% in cash and settled the remaining 70% of the bill with imported goods.

Many officials have since complained of the glut of poor quality Chinese products on sale in the regime, which are often also hazardous to consumers.

Hosseini whose remarks were published in parliament’s website on March 23 said that Iran's cooperation with Russia and China had 'bilateral benefits' but the relationships had triggered some criticism.

He said: "There is also some criticism of Russia and China's method of engaging with Iran."

"Regarding the imposed sanctions, China was also after its own policy, so they paid for 30% of the oil in cash and paid with goods for the other 70 percent. Sometimes their actions are purely political and they very rarely show loyalty."

He added: "Russia and China have helped us a lot in different fields, especially with the sanctions. But we have not had such a good response from them regarding the power plant project in the city of Bushehr."

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