China's assistance to Iran during the war with America and Israel has manifested in various forms. One of the most significant of these aids has been the sale of China's assets in U.S. bonds, which has greatly impacted the yield rates of these bonds and exerted additional pressure on the U.S. economy. This action has made any new American adventurism in these difficult circumstances more challenging.
Vetoing Anti-Iranian Resolutions
China has also vetoed several anti-Iranian resolutions in support of Iran. The latest of these vetoes was related to a UN sanctions committee that was passed last week. This action by China demonstrates its ongoing support for Iran against international pressures.
In the early days of the war, China significantly reduced its oil purchases, decreasing by five to six million barrels compared to the pre-war period. The aim of this reduction was to maintain oil prices at a balanced level below $120 to prevent a global economic recession. China is well aware that oil prices above $120 could lead to a widespread global recession, and since its economy is dependent on global prosperity, this decision has been essential for its interests.
Return to the Oil Market
In the past three weeks, China has returned to the oil market and has begun purchasing again. Part of the current rise in oil prices is due to this return of China and the increase in demand. Despite pressures and offers from the U.S., China has continued to buy oil from Iran and transfer goods and currency to our country. This clearly indicates China's commitment to cooperating with Iran during this critical period.
Trump's visit to Beijing also failed to change the economic cooperation between China and Iran. It seems that China is pursuing its maximum interests, but at the same time, it is aware that Iran acts as a stronghold in defense of the non-American region. Therefore, China helps Iran to maintain this stance.
However, high-level cooperation between the two countries faces obstacles that have been noted in recent processes. Focusing on these obstacles aims to elevate China-Iran relations to a "truly strategic" level, and regional cooperation with China is among these needs.
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