The United States on Wednesday imposed sanctions upon on a network of Chinese, Emirati, and other companies that it has accused of helping to sell and deliver Iranian petroleum and petrochemical products to East Asia, pressuring Tehran as it seeks to revive the 2015 Iran nuclear deal.
Like Russia Iran is finding ways to sell its precious oil. Also Iran is developing commercial trading relationships not connected to the West gaining access to the ability to export goods.
Iran has joined the SCO.
What Iran’s membership of Shanghai Cooperation Organisation means
Iran’s membership in the organisation is a success, but its extent will likely be limited in the short term.
Iran’s bid to become a full member of the Shanghai Cooperation Organisation (SCO) was approved after almost 15 years by the bloc’s seven permanent members on Friday.
After the technical and legal process concludes – which could take up to two years – Iran will formally join a group that accounts for about one-third of the world’s land and exports trillions of dollars annually – as it counts China, Russia and India, in addition to several Central Asian states, among its members.
Iran-Russia banking accord.
The pursuit of inter-banking agreements comes amid efforts by Tehran and Moscow to strengthen their economies and bypass western sanctions.
The Islamic Republic’s Central Bank chief, Ali Salehabadi, has announced that Iran hopes to quickly implement inter-banking cooperation agreements signed in Moscow between Iran and Russia on 7 and 8 July.
“Merchants, businessmen and economists will see the results of these agreements” soon, Salehabadi said, adding that the memoranda of understanding (MoU) will “bolster the developing economic and energy ties between Iran and Russia.”
Iran has applied to join BRICS.
Iran, which holds the world’s second largest gas reserves, has applied to join the BRICS group Brazil, Russia, India, China, and South Africa that Beijing and Moscow cast as a powerful emerging market alternative to the West.
Also Saudi Arabia, Turkey and Egypt may apply to join BRICS too!
The above likely means Iran will be able to acquire its nuclear weaponry.
Also it means the world is becoming multi-polar in economic design conflicting with US desire to be the the #1 power after disposing of first Russia via the Ukraine war then moving on China via the new Blue Pacific (PBP) alliance that is made up of US, UK, Japan, Australia, and New Zealand while also dragging NATO along to confront China.
It seems the world’s pantheon of nations are in opposition to the US’s moves along with it minions to become the #1 meddling nation through it’s military power & economic might to impose their version of “rule of law” upon the world. BRICS has NOT succumbed to the West’s move to isolate Russia & China. In fact they view US strategic moves as more hubris from that nation that will cause much harm in the world. The Watson Institute of Brown University* have documented nearly 400,000 violent deaths death from US interventions since 9/11. And that number is likely higher as war zones are disorganized chaos. And that pales to the number that died from malnutrition as a result of those wars. To say nothing of the poor live’s of the remaining people living in nations that suffered vast destruction of their infrastructure. Ah well, US construction corporations that operate internationally will likely benefit from rebuilding that infrastructure with secured funding from loans made from the IMF or World Bank Group.
I believe this post belong here as it is about economic moves and the changes to the world economic system. But they are driven by geopolitical motives. I do not see how one separates them.