Iranian Foreign Minister Jawad Zarif has finalized a deal with his counterpart Wang Yi during his recent visit to China
Washington … News Time
According to the leading online journal Petroleum EconomistIranian Foreign Minister Jawad Zarif during his recent visit to China has finalized a proposed $ 4 trillion Chinese investment offer in Iran’s oil, gas, and electricity and infrastructure sectors. China made this offer in 2016. It is said that China’s investment will be part of China’s Belt and Road strategy and will be about seven times larger than China’s $ 60 billion investment plan for economic transit.
Hady Amr, Senior Non-Resident Fellow of America’s Leading Think Tank Brookings Institute and Middle East affairs expert, spoke with Voice of Americawith this investment, China aims to increase its economic influence in the Middle East, including Iran, while keeping the political aspect aside. He said that with such a huge investment, China would not keep up with US foreign policy objectives. Although Hadi Amr says that $ 400 billion investment in Iran has many interests for China but it will not have full control over Iran’s oil and gas reserves. He said that China’s relations with Israel and Saudi Arabia are also heating up and that China’s influence is gradually increasing. Hady Amr denies the impression that China, Iran and the Middle East are playing any game. He says China is investing only for its own national interests. Hady Amr says China will invest heavily in Iran Economic transit plans will not have any effect on Pakistan. However, the United States will certainly react strongly to this Chinese move. The United States is increasing economic sanctions on Iran. However, according to Hady Amr, it is currently unclear what the United States wants to convey to the newly emerging alternative superpower China in the context of China’s growing influence.
China will have two parts to invest in Iran. One part to invest $ 2 trillion in oil, gas and petrochemical sectors in Iran the remaining $ 20 billion will be spent on road and rail projects. These projects will be completed in 25 years. China will provide technology, manpower and other resources to complete these projects. While working on the projects, China will also deploy 5,000 of its security personnel to Iran for its expertise, workforce and other interests. It is said that after the completion of the project in Iran, Iran will guarantee that China’s oil supply to China will continue without interruption at at least 12 percent discounted rates. China will also be entitled to a two-year delay in payment of the price of oil and gas purchased. In addition, these payments will be made in soft currencies.
Middle East affairs expert Shireen Hunter, who is affiliated with Georgetown University, says the benefits will benefit China from this risky investment. With this, Iran will continue to become the colony of China in the future and Iran’s economic and political sovereignty will shrink. In a recent article, he said that people are expressing concern over China’s growing influence in Iran. He said when news about the transfer of control of the Iranian island of the Persian Gulf to China was revealed. So the Iranians on social media expressed intense reservations after which the Iranian government denied any such move. Shireen Hunter says Iran will need to boost economic and political relations with other world powers in the wake of China’s $ 400 billion investment so as to balance the growing influence of China on Iran.
