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Why Africa’s Oil Exporters Should be Very Concerned About the Proposed China-Iran Mega-Deal

Iranian President Hassan Rouhani shakes hands with Chinese President Xi Jinping (R) during a welcoming ceremony on January 23, 2016 in the capital Tehran. STR/AFP

Iran and China are reportedly nearing completion of a wide-ranging oil-for-infrastructure deal that would pave the way for billions of dollars of Chinese investment in Iran’s energy, telecommunications and financial service sectors in exchange for a 25-year supply of oil.

Both sides have acknowledged that talks are underway but neither has confirmed the details. When a China Radio International journalist asked Foreign Ministry spokeswoman Hua Chunyin about a New York Times report about the deal, Hua refused to comment.

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