China and Iran are close to setting plans to develop Iran's Yadavaran oil field, according to published reports, in a multibillion-dollar deal that comes as Tehran faces the prospect of sanctions over its nuclear program.
The deal is thought potentially to be worth about $100 billion.
According to Caijing, a respected financial magazine, a Chinese government delegation is due to visit Iran as early as March to formally sign an agreement allowing China Petrochemical Corp., also known as Sinopec, to develop Yadavaran.
The Wall Street Journal also reported in Friday's editions that the two sides are trying to conclude the deal in coming weeks before potential sanctions are imposed on Iran for its nuclear ambitions.
Oil? $100 billion.
China's Security Council veto? Priceless!
Peking VISA. Don't develop nuclear weapons without it!
But remember, at Central Command, they only accept American Express.
(Oddly enough, the Centcom site does not appear to be up as of this posting. I can't even get the cache.)
