Iran has begun engaging in barter trade with China to circumvent US sanctions and bypass the global banking system.
Speaking to a foreign news agency, individuals familiar with the trade—including two senior Iranian sources—revealed that Iran is utilizing a barter-style trading system to continue selling its oil while purchasing goods and military equipment worth billions of dollars from China.
According to the report, this covert system allows Iran to secure credit for Chinese imports in exchange for its oil; through this mechanism, Iran has acquired medicines, vehicles, and telecommunications equipment, even though the manufacturers of these goods were not dealing directly with Iran.
Sources stated that this method was employed at least once over the past year in connection with deals to supply Iran with air defense equipment worth millions of dollars.
According to the sources, beyond this barter-style system, Iran also acquires goods and services from Chinese companies through various other methods that bypass the international banking system.
The sources did not provide further details regarding the alleged transactions, and the news agency was unable to independently verify these matters.
In response to the news agency’s inquiries regarding the barter-style trade, the Chinese Foreign Ministry stated that it was unaware of the situation described and reiterated China’s consistent opposition to unilateral sanctions.
Iran’s UN missions in New York and Geneva did not respond to requests for comment.
