How Iran’s secret barter trade with China helps evade US sanctions

Iran has built a covert oil-for-goods trade channel with China that allows Tehran to circumvent US sanctions and use proceeds from crude sales to purchase billions of dollars- worth of Chinese goods, including air-defence equipment, news agency Reuters reported, citing five people familiar with the arrangement. The barter-like mechanism allows Iran to avoid conventional international banking channels and has become an important financial lifeline as Washington intensifies economic and military pressure on Tehran. It also helps shield Iranian banks and exporters from international scrutiny and the risk of sanctions. The United States has sanctioned several smaller Chinese entities accused of…