Understanding the Sino-Iranian Relationship under the Influence of US Sanctions
Author
Keller, Siora Hélène
Term
4. term
Publication year
2020
Submitted on
2020-05-15
Abstract
Amid the United States’ “maximum pressure” campaign and its 2018 withdrawal from the JCPOA, Iran faces sanctions that strain its economy and constrain external trade. This thesis examines why China maintains a close relationship with Iran despite these pressures. Using three qualitative case studies grounded in geopolitical and geo-economic theory and the international political economy of currency internationalisation, it assesses Iran’s role in the Belt and Road Initiative, China’s energy security, and the prospects for renminbi use in trade with Iran. The study situates contemporary ties within a long history of Sino-Iranian exchange and highlights how sanctions create obstacles for investment, crude oil trade, and project implementation. Findings indicate that China’s commitment is primarily driven by geopolitical and economic objectives linked to the BRI and secure energy supplies, while renminbi internationalisation plays a secondary role. At the same time, sanctions underscore Iran’s dependence on the US dollar in oil trade, making renminbi settlement attractive for Tehran and consistent with China’s longer-term goal of reducing dollar dominance.
Midt i USA’s kampagne for maksimalt pres og udtrædelsen af JCPOA i 2018 møder Iran sanktioner, som svækker økonomien og vanskeliggør udenrigshandel. Dette speciale undersøger, hvorfor Kina fastholder et tæt forhold til Iran trods disse sanktioner. Gennem tre kvalitative casestudier, forankret i geopolitisk og geoøkonomisk teori samt den internationale politiske økonomi om valuta-internationalisering, analyseres Irans betydning for Bælte- og Vej-initiativet, Kinas energisikkerhed og mulighederne for at bruge renminbi i samhandlen med Iran. Specialet sætter nutidens relation ind i en lang historisk kontekst og belyser, hvordan sanktionerne skaber barrierer for investeringer, råoliehandel og projektgennemførelse. Analysen peger på, at Kinas engagement først og fremmest drives af geopolitiske og økonomiske mål knyttet til BRI og stabil energiforsyning, mens internationaliseringen af renminbien spiller en sekundær rolle. Samtidig synliggør sanktionerne Irans afhængighed af den amerikanske dollar i oliesektoren, hvilket gør afregning i renminbi attraktiv for Teheran og i tråd med Kinas langsigtede mål om at mindske dollardominans.
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