"The (total) volume of Iran's exports to China stood at $2.1 billion in the 9 months of this (Iranian) year (ends March 20). The volume was $1.5 billion during the similar period last year", Amir Talebi was quoted as saying by the state-run Fars news agency.
Economic relations between China and Iran have seen a steep rise in recent years. A number of Chinese firms are involved in major construction projects while China has signed an estimated $120 billion worth of oil deals over the past five years, and trade between the nations rose 35% last year to a total of $27 billion.
This huge increase in trade between the nations comes despite sanctions being in place against Iran over its nuclear activities. Analysts have indicated that watered down sanctions which have not been strictly enforced are permitting Chinese trade at such a level.
On Saturday diplomats from the P5+1 group met in New York to discuss the potential for further sanctions against Iran over its nuclear program. China in what was seen by many as a snub to the other nations sent a low level diplomat to the talks as the economic deals set up between China and Iran seemed to take precedent over fears relating to Iran’s nuclear program.
