Iran and China have come close to a strategic agreement under which Iran will supply China with all the crude oil it needs for the next 25 years.
An Iranian website has received an 18-page document of the Iran-China Comprehensive 25-Year Cooperation Program, according to which Iran has agreed to sell crude oil to China for 25 years.
In response, China will allow Iran to use its oil revenues accordingly, while China will be allowed to build a railway line in Iran that would connect Pakistan to Iraq and Syria via Iran.
According to the document, Iran has also encouraged China to invest in the oil and gas industry, under which China can invest in Iran's oil sector at will.
Under the agreement, China will also participate in the construction of ports in the Makran region along with coastal development.
The two countries will co-operate in the construction and banking of petrochemical products, civilian nuclear energy supply, highways, railways and maritime links.
The two governments will also co-operate against money laundering, terrorist financing and organized crime.
The clauses in the Iran-China agreement are being called extraordinary in Iranian history, but according to the Iranian constitution, the Iranian parliament will give final approval to the agreement.
