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This agreement between #China & Iran is one of most important #geopolitical developments of the year & its outcomes will reverberate beyond the geopolitics of energy field

▪️ $280bn to be invested by China in #Iran's oil, gas & petrochemicals sectors 1/

petroleum-economist.com/articles/polit…
- China will get minimum guaranteed discount of 12% to any oil, gas & petchems products that it'll buy; plus another 6 to 8%
-China to speed up development of #Phase 11 of South Pars gas field -from which Total had withdrawn, in response to US sanctions
-Also, production from 2/
from Iran's West Karoun oil fields to be increased by addit' 500,000bl/d by end of 2020
-China's imports of Iranian oil to stay high, even to be increased=>a continuous undermining factor of US sanctions policy

-China can delay the payment of Iranian oil, gas and petchems 3/
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