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Source: https://www.nytimes.com/2021/03/27/world/middleeast/china-iran-deal.html
China Signs $400 Billion Investment Deal with Iran
(New York Times) Farnaz Fassihi - China agreed to invest $400 billion in Iran over 25 years in exchange for oil under a sweeping economic and security agreement signed on Saturday. "China firmly supports Iran in safeguarding its state sovereignty and national dignity," Foreign Minister Wang Yi said at his meeting in Tehran with President Hassan Rouhani. Experts said the deal was largely unchanged from a draft obtained last year by the New York Times. Chinese investments will be made in banking, telecommunications, ports, railways, health care and information technology. In exchange, China would receive a heavily discounted supply of Iranian oil. The draft also called for deepening military cooperation, including joint research and weapons development and intelligence-sharing.