Sunday, November 16, 2014

China to double Iranian investment

BBC - 16 November 2014

China is set to double its investment in Iranian infrastructure projects, Iran's Mehr news agency reports.
China has raised its quota for Iranian projects to $52bn (£33bn) from $25bn the report said, quoting Iran's deputy minister for energy, Esmail Mahsouli.
Water, electricity, oil and gas projects will all benefit from the extra financing, Mr Mahsouli said.
Iran has turned to China, Russia and Turkey for financing as Europe and the US have strict sanctions on the nation.
The US has an almost total economic embargo on Iran, while the European Union tightened up its sanctions in 2012, particularly targeting the energy and banking industries.