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Statistics from Iran, and what the leaders of the country say is not accurate, always.
Iran has a lot of oil to sell, and all China has to do is focus on purchasing greater crude oil from Iran....maybe 1.5 million barrels a day.
1.5 million barrels a day crude oil sale is worth about $50 billion annually, depending on prices, and if the Iranians were to import the same amount of goods from China in barter agreements, under a trade based on good faith (You buy, I buy-equilibrium), for machinery and capital equipment, infrastructure development and defense equipment....then the trade between the two countries could reach $100 billion very very soon.
All it requires is political will on both sides.
Iran benefits from having the Israeli led sanctions being neutralized, and the Iranian economy recovering.
China as the major oil purchaser from Iran becomes defacto the "Guardian" of the country, exerting considerable moderating influence and leverage within it.
If a mere 25% of China's oil imports come from Iran, it does not make China any more vulnerable than say relying on Saudi/Angola oil imports......which constitute 26% of China's total imports of about 6 millions barrels a day......though imports of crude oil fluctuate depending on the strength of the Chinese economy.
Oil imports can be a political tool for China and buying influence into one of the most important countries in the Middle East. By contrast China trying to gain influence in Saudi Arabia will be very difficult......given the history, and background of the country.
Oil is political tool in the West, whose price is artificially manipulated, and so oil can also be a political tool in Iran.
The question remains how Iran will persuade China to buy more of its crude oil, which replaces Saudi Arabia as the number one supplier of Chinese crude oil imports.
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Iran sets China trade target of $100 billion
Presstv.com
"The Islamic Republic of Iran is ready to
increase its economic and trade ties with China to $100 billion.”
Iran
would like to increase annual trade with China to $100 billion,
according to Iranian First Vice President Mohammad Reza Rahimi.
Rahimi made the remarks during a meeting with the chairman of the Standing Committee of the Chinese National People's Congress, Wu Bangguo, in Tehran on Monday.
“The Islamic Republic of Iran is ready to increase its economic and trade ties with China to $100 billion,” he said, adding that Tehran wants to raise the level of its interactions with China in the oil and gas sectors.
Wu described Iran as an important and effective country in the region, noting, “China’s relations with Iran are considered a major priority.”
Wu is on a three-day official visit to Iran, which he has made upon the invitation of Iranian Majlis Speaker Ali Larijani.
Iran is currently China's third largest supplier of crude, providing Beijing with roughly 12 percent of its total annual oil consumption -- nearly one million barrels per day.
Trade between the two countries is currently dominated by Iran's energy exports, while the main Chinese exports to Iran include machinery and textiles among other consumer goods.
