News ID: 219517
Published: 0245 GMT August 07, 2018

Iran to easily overcome US sanctions: Chinese analyst

Iran to easily overcome US sanctions: Chinese analyst

Iran's economy is capable of overcoming US sanctions with the least difficulty, a Chinese economic analyst said, arguing that the measures are not supported by the international community.

US sanctions against Iran re-installed after Washington's withdrawal from the nuclear deal will not affect Iran's economic ties with the world, since they are unilaterally imposed without being approved by the international community, Qingyi Su told IRNA.

Iran and the five permanent members of the UN Security Council (the US, France, Britain, China and Russia) plus Germany signed the nuclear deal, known as the Joint Comprehensive Plan of Action, in 2015. Iran accepted to curb its nuclear program in exchange for economic sanctions relief.

Despite several reports by international nuclear watchdog confirming Iran's commitment to JCPOA, US President Donald Trump withdrew from the deal on May 8, 2018, calling it the worst deal ever.

Washington has also reimposed economic sanctions the first set of which started on Monday.

After the sanctions many major economies including those from European countries, China and Russia have retained, or even boosted, economic relations with Iran, the Chinese analyst said.

As the analyst at the Institute of World Economics and Politics (IWEP) Chinese Academy of Social Sciences (CASS), he said that the measures will not affect Iran-China economic ties.

The prospect of the Tehran-Beijing ties is improving, he said adding that the new round of sanctions are very different from those in the previous years.

He underlined that the US is now alone and the world is on the deal and Iran side.

Qingyi added given the several agreement signed between Iran and China during Iran's President Hassan Rouhani's last visit to Beijing, cooperation between the two countries will be continued even if the Europeans leave the deal.

State-run companies are following the government's decisions, but the situation for the private sector is different since they seek their financial interests, according to the analyst.

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