INTERNATIONAL
2 min readChina-Iran Barter Trade Flourishes Under US Sanctions
TrueGov Editorial Team•4 months ago•2 min read
Chinese automaker Chery exchanges vehicles for Iranian metals, bypassing dollar transactions
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Chinese automotive manufacturer Chery Automobile has increased barter trade with Iran amid ongoing U.S. sanctions, according to a recent Bloomberg report. The arrangement allows Chery to export semi-knocked-down vehicles to Iran in exchange for metal ores including copper and zinc, effectively circumventing restrictions on financial transactions. This trade relationship developed following the United States' withdrawal from the Iran Nuclear Deal in 2018 and subsequent imposition of sanctions.