Abbas Sheri Moqaddam

China finances 20b euros of Iran projects

TEHRAN April 15(Shana)–China has so far financed 20 billion euros of oil projects in Iran, the head of National Petrochemical Company has said.
“So far, China’s finance in Iran’s petroleum industry has been around 20 billion euros,” Abbas Shari-Moqaddam said.
He added that Iran’s Minister of Petroleum Bijan Zangeneh, during his visit to China, solicited the Asian big economy to invest in Iran three times Iran’s securities in Chinese banks.

Shari-Moqaddam said China is expected to announce its decision soon.
He said that Iran’s oil revenues remain frozen due to international sanctions, adding that a nuclear deal would allow the money to flow into Iran’s sovereign wealth fund – National Development Fund of Iran.