Iran–China 25-year Cooperation Program
The Iran–China 25-year Cooperation Program or Comprehensive Strategic Partnership between I.R. Iran, P.R. China is a 25-year cooperation agreement on the further development of Iran–China relations signed in Tehran by the Chinese and Iranian foreign ministers on 27 March 2021; the final details of the agreement have yet to be officially announced. Under a draft of the 25-year agreement (signed on 24 June 2020 in Beijing) previously obtained by "The New York Times", China is to invest in Iran's economy over that time period in exchange for a steady and heavily-discounted supply of oil from Iran. "Petroleum Economist" reports that the agreement includes up to towards developing Iran's oil, gas and petrochemicals sectors and another investment of towards upgrading Iran's transportation and manufacturing infrastructure. According to Iranian authorities, reviving the Chinese One Belt One Road Initiative is also part of the agreement.

The report by "Petroleum Economist" initially claimed that, according to the agreement, "China will be able to buy any and all Iranian oil, gas and petrochemical products at a minimum guaranteed discount of 12pc to the six-month rolling mean price of comparable benchmark products, plus another 6pc to 8pc of that metric for risk-adjusted compensation." The same report claimed that the agreement would allow China to lease Iranian islands and deploy Chinese security forces in Iran.

The latter reports were categorically denied by Iranian authorities, including by the Iranian foreign minister Mohammad Javad Zarif, who stated "such a deal doesn't even exist, let alone have articles", and that "we have not handed over a [single square] meter of [our] land to China or any other country, nor granted any foreign country the exclusive right to take advantage of a handspan of Iran’s soil, and will not do this [in the future]”. Later on, the spokesman for the Iranian foreign ministry confirmed to reporters that "there is no handing over of the Iranian islands, no presence of military forces and no other illusions". Reports regarding heavily-discounted Iranian oil and petrochemical sales were also denied.

Based on the agreement, China has agreed to inject $280 billion to $400 billion by foreign direct investment into the Iranian oil, gas and petrochemical industries.

The original plan for cooperation had been proposed by Chinese leader Xi Jinping during a 2016 visit to Iran. Iranian president Hassan Rouhani signed the final draft of the program on June 23 in a cabinet meeting and ordered the Iranian foreign ministry to finalize the negotiations. , Iran's parliament has yet to pass the deal but will likely follow suit. On 1 October 2020 President Rouhani sent a message to Xi Jinping about signing off on the program.
Q25095
Iran–China relations
Concept
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Tehran
LOC
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Chinese
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Iranian
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Beijing
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The New York Times
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Iran's economy
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Petroleum Economist
MEDIA
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gas
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petrochemicals sectors
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transportation
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manufacturing infrastructure
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One Belt One Road Initiative
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Iranian islands
UNK
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Chinese security forces
ORG
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Mohammad Javad Zarif
PER
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Iranian foreign ministry
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foreign direct investment
Concept
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Chinese leader
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Xi Jinping
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Iranian president
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Iran's parliament
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Iran–China 25-year Cooperation Program
UNK
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27 March 2021
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24 June 2020
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