China and Iran are negotiating an oil barter agreement to evade the US
sanctions against Iran, Lenta reports.
The UN introduced sanctions against Iran in 2010. The organization
believes that Iran is developing nuclear arms. The EU and USA
introduced additional sanctions against cooperation with Iranian oil
companies.
China has a debt of at least $20 billion for oil imports in the last 2
years. The sum may reach $30 billion
China and India are the main oil importers from Iran, they import
about a third of their hydrocarbons from the country. Tehran
threatened to stop oil exports to India last week unless it pays a
debt of $5 billion.
China has increased its imports of Iranian oil by 49% since early
2011. Trade turnover increased to $29.3 billion, a 40% increase
compared with 2010.
