In another slap in the face against US hegemony, China just opened up a $10 billion credit line for Iran. This means that, while the US Congress was forced to raise the debt ceiling again, this time way beyond the $20 trillion mark, the Eastern Alliance member countries are moving ahead with the massive Eurasian project known as the One Belt One Road revival of the ancient Silk Road.
“Assisting Tehran with sidestepping an ongoing Washington sanctions regime against the country, China has opened a $10 billion line of credit intended to finance energy, transportation, water and other key Iranian infrastructure projects.
Following the ground-breaking 2015 Joint Comprehensive Plan of Action (JCPOA) between Iran and Russia, the US, China, France, the UK, as well as Germany and the EU, to end its nascent nuclear weapons program, Tehran — in honoring the terms of the unprecedented treaty — has nonetheless seen Washington implement a host of new sanctions against the Middle Eastern country, including asset freezes and limits on global financial transfers.
According to Iranian Central Bank President Valiollah Seif, Chinese state-owned CITIC investment company has opened a $10 billion credit line to several banks in Iran to be used to fund wide-ranging infrastructure projects in the country, according to a report by the Times of Israel.
The significant credit line will primarily use euros and yuan to bypass the US sanctions.
Seif indicated that the $10 billion, alongside an additional previous $15 billion of Chinese investment into other unnamed projects in the country, show “a strong will for continuation of cooperation between the two countries,” according to Pakistan’s geo.tv media outlet.
China is seen to be opening trade to the region as part of a trillion-dollar “One Belt, One Road” strategy to increase ties to Africa and Europe. China is the biggest recipient of Iranian oil, and accounts for almost a third of Tehran’s overall trade.
In pledges to significantly increase trade with Iran, Beijing previously opened two credit lines equaling $4.2 billion, to build high-speed railway lines between Tehran and the cities of Mashhad and Isfahan, according to the Iran Daily, hot on the heels of an €8 billion credit agreement between Tehran and Seoul’s Exim bank signed in August.
While western banks remain cautious, particularly as Washington has imposed what many consider to be unnecessary financial blocks on Tehran, negotiations are progressing between banks in Austria, Denmark and Germany to provide a $22 billion credit line to Iran.”
Exceptionalism is dead.
Mutual cooperation is the new game in town, and multipolarity is the new normal.
8 thoughts on “US Sanctions Continue to Backfire”
I wish Australia would join BRICS, we are going Backwards, with BS, Fair trade, BS-Global warming, Bullshit Jew Media, & No Sovereign bank!
The world is currently facing 4 nasty & devious countries, often colluding with each other. Other countries should boycott USA, India, Japan, & Israel.
They all have right-wing nationalistic , apartheid & brutal suppressive Regimes.
Good stuff, this bullying by the US has got to stop. Sanctions does not help the people as already proved, but what the do do is weaken the country’s structure enough for forced military action and thereafter multiple construction, pharma projects and of course the UN which are making billions of £’s!!!
I sometimes wonder if these colonial powers would be powerful at all if it were not for their constant raping of other countries resources.
Of course, it is not “the US” that is responsible for the subversive activities, but rather the “elite” of Judaism, the leaders of the fraudulent “Israel”, who are the “tail that is wagging the dog”. Genuine decision-making does not reach Americans, generally, and the vote of congress follows zionist leadership. The vote for Donald Trump was a requirement to avoid the Clinton Foundation from acquiring the USGovernment and the 50 states as a subordinate function. President Trump has an array of patriotic thoughts and desires that reflect the heart of American patriots.
Does anyone REMEMBER…How bankers get “Control” over nations Here???
CREDIT??? Remember WHAT one infamous banker (Rothschild) said about getting control of ANY government??? That he didn’t even care WHO runs a country because he knew that when you can CONTROL their MONEY…THEY “Control” their country???
It all starts with LOANS…CREDIT Lines!
Australians are even more retarded than Americans, if that is possible.
As to the US, they are going down in the same manner by which they took down Al Capone, through his money, and it is so fitting.
You should not be wishing Australia joins BRICS
Between Turnbull, Shorten & Abbott who closed the auto industry it is all over for Australia. Australia is in a similar postion prior to WWII when certain elite through the Brisbane Line agreed to allow Japan to take over as long as they kept their ‘assets’. There is now a new Brisbane? Line
China is the new Big Brother
China manipulated and controlled by the same financiers who control the West
We are in the throws of the Big Take Down of the European Christian West
There is surely an ‘arrangement’ between Russia and China. Don’t trust Putin
Trump the chump with Zio Bannon don’t have a clue. Will not save US or us. Pence is a Born Again Hand Waving Rapture Believing Zio. drongo.
No country needs to borrow especially for infrastructure
Globalist bankers do not have the money to lend. It is a computer entry
To build say a bridge or a dam, all concrete and steel, the State simply prints the money which goes into circulation. Does not get paid back. No bankers required. No interest required. And no inflation.
For imported content all that is required is an export item and hey presto we are back to the barter system
It is almost to late. It will take an urgent meeting of patriots from UK/Ireland/Iceland, USA, Canada, Australia, New Zealand and balance of South American countries and any others particularly EU breakaways and eastern European who wish to be involved to rise up and take charge. Trump sadly is not the answer. Trumps response to North Korea is pathetic and ridiculous
We hear about the Underground Establishment in America (I do not believe it exists)and the rumblings of Benjamin Fulford who I believe is working for China
I expect China and Russia to fall out
What is amazing is China is an industrial giant and Russia which could be is not
Russia could build a high standard of living for her people including a car industry and doesn’t
DEAD-ON brother!!! They didn’t fool you either!