FX.co ★ Iran and China signs an agreement that outlines their plans for the next 25 years

Iran and China have signed an agreement that outlines their plans for the next 25 years.

According to reports, Beijing intends to invest in Iran by buying oil from the Islamic Republic, further exacerbating its relationship with the United States, which has already been tainted by Chinese imports of clandestinely supplied Iranian oil.

The Comprehensive Strategic Partnership, signed Saturday in Tehran by Iranian Foreign Minister Mohammad Javad Zarif and his Chinese counterpart Wang Yi, has been in development since 2016, when President Xi Jinping became the first Chinese leader to visit the Iranian capital.

The alliance between Beijing and Tehran poses a challenge for the administration of US President Joe Biden, who is trying to turn against China, which, according to Secretary of State Antony Blinken, is "the greatest geopolitical test."

"This document can raise bilateral relations to a new strategic level," Foreign Ministry spokesman Saeed Khatibzadeh said.

A draft outline of the agreement, which appeared in the media last year, shows plans for the long-term supply of Iranian crude oil to China, as well as investment in infrastructure for oil, gas, petrochemicals, renewable energy and nuclear energy.

Lured by the prospect of lower prices, China has already boosted Iranian oil imports to about 1 million barrels a day, undermining US influence as it prepares for stalled talks with Tehran to reopen the nuclear deal.

The Biden administration said it is open to renewed cooperation with Iran after Donald Trump pulled out of the agreement nearly three years ago and re-imposed economic sanctions. But until now, the two sides have not agreed even to a meeting yet. Iran exported about 2.5 million barrels of oil a day before the renewal of US sanctions.

Iran's closer integration with China could help bolster its economy against the impact of US sanctions. Wang Yi, who arrived in Tehran on Friday, also met with President Hassan Rouhani to discuss the nuclear deal.