World News
Oil for Missiles: How China and Iran Worked Around Sanctions
Over the past year, China supplied Iran with hundreds of shoulder-fired anti-aircraft missile systems in exchange for oil and credit to purchase goods. The deal was carried out by circumventing international sanctions.
IllustrationReuters reported today (Thursday) that Iran received air-defense systems worth millions of dollars from China over the past year. In exchange, oil was exported from Iran. China also extended Iran credit to purchase Chinese goods instead of providing cash, allowing the two countries to circumvent sanctions.
As previously reported, there have been repeated reports over the past year that Iran has used Chinese weaponry in the war, including rockets and missiles, along with technological assistance. According to today’s report, the contract between China and Iran is valued at approximately $60 million to $70 million.
The deal includes the delivery of between 300 and 400 portable air-defense systems (MANPADS) and shoulder-fired anti-aircraft missiles. The missiles being purchased are QW-12 and FN-16 models, intended to provide short-range air defense and intercept low-altitude targets such as helicopters and aircraft.
China’s Foreign Ministry responded to the reports by claiming they were "completely groundless," although, according to Reuters, "intelligence and news sources confirm the details of the transfer."
