by Tyler Durden
Between
Clinton's 'prices to be paid' and
Obama's new trade-war, is it any wonder the Chinese have decided to escalate their 'more-than-rhetoric' from
bartering away from the USD. After ignoring the sanctions and then receiving their exemption,
PressTV reports tonight that
China is to invest in developing north and south Iranian oil fields
(which will produce 700,000 barrels per day of crude). One of the oil
fields, Azadegan, has one of the world’s largest oil deposits, with
in-place oil reserves estimated at 42 billion barrels - enough to tide
China over a for a while - as Iran's Oil Minister Rostam Qasemi adds
after 10-15 years of negotiations the decision has finally (and coincidentally very timely) been reached as "the Chinese side has started its activities by investing USD 20 billion in the oil fields".
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