According to reports, Iran and China have signed an oil barter agreement worth 2.5 billion euros in exchange for the latter's assistance in expanding the Imam Khomeini International Airport in the capital Tehran.

On August 27th, Said Sharandari, CEO of Imam Khomeini International Airport, stated that the feasibility study for the second phase of the airport construction has begun, with an estimated investment of approximately 2.5 billion euros. Iran will use the barter trade mechanism to make payments for the project, which allows for the exchange of financial resources, equipment, and technical services with crude oil.

Sharandari stated that several Iranian and foreign companies were shortlisted for the project, and after several rounds of intensive negotiations, one Chinese company won the bid. He did not disclose the name of the enterprise.

According to Sharon Dari, the execution and operation of the terminal project in the second phase of the project may begin in late September. The new terminal will have modern equipment and infrastructure, and will operate independently of the existing facilities at the airport.

In order to evade US sanctions, Iran has repeatedly explored alternative payment mechanisms for maintaining trade with other countries, in order to bypass the US dollar and complete transactions. In January 2019, Germany, France, and the United Kingdom established a trade exchange support tool with Iran; In 2021, Sri Lanka and Iran reached a barter trade agreement to exchange tea for oil over an oil debt; In July of this year, the Iraqi government stated that due to the US delay in Iraq's payment to Iran, Iraq will begin exchanging crude oil for Iranian natural gas.Editor/GaoLiMei