China and Iran are reportedly in the process of striking a $400 billion economic and security deal, which would bring about massive infrastructure investments, as well as closer cooperation on defense and intelligence sharing, according to Forbes.
The deal is rumored to include discounts for Iranian oil.
Reports speculate that the United States is likely to push back against this deal, given relations between the Chinese and U.S. governments are at their lowest point in decades, according to South China Morning Post. In fact, China has urged other nations not to back recent calls by the United States for more sanctions on Iran.
Iran was notably impacted by sanctions imposed by the United States after President Donald Trump withdrew the United States from the Iran nuclear deal in 2018. If the deal between China and Iran moves forward, it would mean a momentous economic boost for Iran.
