Mohammad Javad Zarif and Wang Yi, the Iranian and Chinese foreign ministers, met yesterday in Beijing
China was part of the Iran nuclear deal from which the US has withdrawn. Now, China says it wants to maintain the deal. However, from all indications, it appears the Chinese have also been preparing to take advantage of Mr Trump’s decision to pull out of it.
For EU countries, the chances are that trade with the US is always going to be more important than trade with Iran. That may also be true for Chinese firms. Nevertheless, in certain sectors Beijing could get round some US sanctions and has begun preparations.
Iran’s foreign minister was in Beijing yesterday. China is Iran's biggest trade partner.
Mohammad Javad Zarif and senior Chinese officials hailed the “strategic partnership” between their countries.
Depending on the way Mr Trump chooses to implement sanctions this could enable China not only to continue to trade without depending or relying on the dollar market, but even set its own terms to Iran for doing so.
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