China's Role in Russia and Iran Sanctions Evasion Revealed
By
Svetlana Petrovich
1 min read
⚠️ Heads up: this article is from our "experimental era" — a beautiful mess of enthusiasm ✨, caffeine ☕, and user-submitted chaos 🤹. We kept it because it’s part of our journey 🛤️ (and hey, everyone has awkward teenage years 😅).
Recent findings from the economic think tank, Atlantic Council, shed light on how China's support has enabled Russia and Iran to skirt Western sanctions on oil exports. As the US-led sanctions escalate, China has facilitated an alternative market for the oil, using covert maneuvers to avoid international rules. The oil revenue from China is propping up the Iranian and Russian economies, in an effort to undermine Western sanctions. The use of Chinese currency and payment systems in this market limits Western access to financial transactions data and weakens their sanctions enforcement efforts. These revelations have significant implications for global oil trade and the geopolitical landscape.