In recent years, the relationship between Russia, Iran, and China has been strengthening, as all three countries face sanctions and restrictions by the West. The trio has come together to form a common foreign policy, advocating for a multipolar world free from American dominance. Economic ties have become the foundation of their alliance, with promises of increased trade, bilateral agreements, and plans for tariff-free blocs and new trade routes.
China, Russia, and Iran have been working towards a more integrated economic relationship. China has become a significant customer for oil from both Russia and Iran, as Western sanctions have limited other markets. Inflows of Russian crude to China have increased significantly, and Iran has seen a surge in its exports to China as well. China benefits from purchasing oil at discounted prices from Russia and Iran, and then processing the hydrocarbons into higher-value products.
The three countries have also been working to expand their trade beyond commodities. While China’s exports to Russia have increased, Iranian companies face challenges in obtaining essential raw materials, hindering its manufacturing industry. Efforts are being made to increase investment and trade in various sectors, although barriers such as sanctions and lack of common banking channels remain.
Despite the challenges, the alliance between Russia, Iran, and China has already provided benefits to its members, helping them navigate Western sanctions and embargoes. However, the full potential of the alliance depends on overcoming external and internal obstacles. Efforts are being made to promote cooperation, cross-border investments, and infrastructure development among the three countries. The potential for deeper economic integration and mutual benefit is there, but challenges such as sanctions, trade barriers, and competition between the member countries still exist.
As the alliance continues to evolve, the focus remains on serving China’s interests and gaining opportunistic benefits. China is unlikely to fully commit to building a true partnership, especially if it risks its business relations in the West. However, future developments, such as potential further sanctions by the West or changes in global trade dynamics, could impact the trajectory of the alliance and lead to increased cooperation or competition among its members. The dynamic between Russia, Iran, and China will continue to shape regional and global economic relationships in the years to come.
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