The Middle East is a strategic location for China's Belt and Road Initiative. On March 27, 2021, Chinese State Councilor and Foreign Minister Wang Yi and Iranian Foreign Minister Zarif formally signed the China-Iran Comprehensive Cooperation Plan in Tehran. The Iranian government spoke highly of this. In response to many foreign media’s belief that the agreement will greatly squeeze the United States’ living space in the Middle East, Iran is also trying to use the agreement to get rid of US sanctions against Iran. Wang Yi said that the current situation of the Iranian nuclear issue is that the United States unilaterally withdraws from the group and breaks the agreement. As a result, the U.S. should lift its illegal sanctions on Iran, abolish its long-arm jurisdiction over third parties, and fully and unconditionally resume the implementation of the comprehensive agreement.

The agreement is strategic

When meeting with Iranian President Rouhani, Wang Yi said that 2021 is the 50th anniversary of the establishment of diplomatic relations between the two countries. The comprehensive cooperation plan signed by both parties will make an overall plan for the promotion of China-Iran comprehensive strategic partnership. It will not only benefit the two peoples, but also safeguard the region. Make China-Iran contribution to peace in the world. Rouhani said that all sectors of Iraq regard China as the most important cooperative partner of Iran, and the signing of the comprehensive cooperation plan between the two countries will further clarify the roadmap for future cooperation between Iran and China. He also emphasized that the implementation of the agreement will be accelerated. The Iranian Foreign Minister Zarif called this agreement "a historic 25-year strategic road map."

Although the specific content of the China-Iran comprehensive cooperation plan has not yet been announced, according to the information released by the Ministry of Foreign Affairs, China and Iran will focus on cooperation in economic, humanities and other fields, and continue to promote the continuous development of China-Iran comprehensive strategic partnership, and Constantly open up new areas of cooperation between the two countries. The 25-year strategic agreement between China and Iran is mainly focused on political, economic and energy cooperation. There are three most important items, namely: 1. China will increase investment in Iran’s energy facilities and infrastructure construction related to people’s livelihood to enhance Iran’s overall national strength; 2. China will use China for oil settlement and trade exchanges between China and Iran. RMB and China’s newly launched digital RMB settlement avoids USD settlement; 3. The seeker of Iran’s missiles (without specifying whether they are ordinary missiles or ballistic missiles) will be guided by China’s “Beidou” global positioning and navigation system.

The comprehensive cooperation plan signed by China and Iran has promoted the comprehensive cooperation between China and Iran in the fields of economy, trade, and investment. It is not just the 25-year economic, trade and investment cooperation between the two countries, but also energy cooperation. The above is a move that has a major impact on the entire Middle East strategic pattern and even the entire world economic order.

It is foreseeable that the passage of this agreement will allow China to obtain a stable supply of Iran in the future, adding that the two countries also agreed to establish an "Iran-Chinese Bank." In addition, when Wang Yi visited the UAE and Turkey, he also emphasized the need to strengthen the exchange of local currencies. In a written interview with the Emirates News Agency, Wang Yi stated that he will promote more local currency settlements in bilateral trade and investment, and jointly build the China-Arab Belt and Road International Exchange. Editor/Xu Shengpeng