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Iran uses barter system to buy Chinese goods, bypassing sanctions

Tehran converts oil revenues into credits to purchase items from China, avoiding international banking.

AI-assisted coverage comparison, editor-supervised · How this was made

Published
Iran uses barter system to buy Chinese goods, bypassing sanctions

What this story says

  • Iran is using a barter-like system to exchange oil for goods from China, circumventing US sanctions.
  • Oil revenues are converted into credits, enabling purchases of items like medicines, vehicles, and air-defence equipment.
  • The arrangement involves a China-based entity called ChuXin and a Special Purpose Vehicle (SPV).
  • China accounted for over 80% of Iran's oil shipments in 2025, averaging 1.4 million barrels per day.

Who covered it

Left 10%(1)Centre 30%(3)Right 60%(6)

Percentages are shares of the 10 outlets carrying a published leaning rating. 14 of the 24 outlets we know ran this story carry no rating and are not counted in them. Coverage measured .

Trust

60/100

Craft

65/100

Hype

45/100

24 sources · methodology

Thin on the left so far

Only 1 of the 10 outlets with a published leaning rating that ran this story are rated left.

This story is still being watched, so it is a count and not yet a finding. Coverage keeps arriving for hours after an event, and a side that has published nothing this morning may publish by tonight. If it is still true when we stop checking, we will say so plainly.

Iran has implemented a barter-like mechanism to bypass US sanctions on its oil exports and acquire goods from China. This system converts oil revenues into credits, which are then used to pay Chinese suppliers, thereby avoiding direct international banking transfers. The arrangement has facilitated the purchase of various goods, including medicines, vehicles, communications equipment, and air-defence equipment.

The mechanism reportedly involves a China-based financial entity named ChuXin and a Special Purpose Vehicle (SPV). This structure is designed to shield Iranian banks and exporters from international scrutiny. China has become Iran's primary oil customer, accounting for more than 80 per cent of its oil shipments in 2025, with imports averaging approximately 1.4 million barrels per day. This significant trade volume underscores the importance of alternative payment mechanisms for Tehran.

Disagreement on the value of funds moved

Sources familiar with the arrangement provided differing estimates for the total funds that have moved through the Special Purpose Vehicle. Some sources indicated that between $2 billion and $2.5 billion had flowed through the SPV over the past year, as reported by India Today. Other reports, such as those from The Straits Times and WTVB, mention a "billion-dollar sanctions dodge" without specifying a range.

What the coverage left out

None of the left-rated or centre-rated digests mention the specific financial entity known as ChuXin or the Special Purpose Vehicle (SPV) that are described as key components of the arrangement in the right-rated and unrated reports. Additionally, the left-rated digest does not specify the average daily oil shipments from Iran to China in 2025, a detail present in the right-rated India Today report.

Still developing. We have re-checked which outlets are covering this 3 times, most recently on 10 Sept 2026, 13:45, and will add the sides that appear.

How each side covered it

Our own reading of the reporting listed below, written from the outlets’ articles rather than quoted from them. The reasoning is set out on our methodology page.

Left

1 rated outlet

  • The single left-rated report from Haaretz highlighted that Iran has long relied on China as its main oil customer. It noted that Tehran has converted oil revenues into Chinese goods, including millions of dollars' worth of air-defense equipment, while evading international scrutiny. The report framed this as a revelation from an investigation.

Centre

3 rated outlets

  • The centre-rated reports from Jerusalem Post and WTVB focused on Iran dodging sanctions through a barter system to buy billions of dollars of Chinese goods. The Jerusalem Post described the secretive trade mechanism as a financial lifeline for Tehran in recent years. WTVB, in an exclusive report, highlighted how a "billion-dollar sanctions dodge" kept Chinese goods flowing to Iran.

Right

6 rated outlets

  • The right-rated reports from India Today, VINnews, Korrespondent.net, Yonhap News Agency, and The Straits Times all led with Iran's use of a secret barter-like system to circumvent US sanctions on its oil exports and purchase Chinese goods. India Today's headline stated, "How Iran's secret barter trade with China helps evade US sanctions," and detailed the mechanism, including the purchase of air-defence equipment. VINnews reported that the system has been operating since at least 2021. Yonhap News Agency described it as a "secret 'Barter' Trade Network." The Straits Times noted that "a billion-dollar sanctions dodge kept Chinese goods flowing to Iran."

Questions about this coverage

How did the left and right cover Iran uses barter system to buy Chinese goods, bypassing sanctions?
Of the 10 outlets on this story carrying a published leaning rating, 10% are rated left, 30% are rated centre, 60% are rated right. Those percentages are shares of the rated outlets, not of every outlet that ran it, which was 24. The sections above set out what each side emphasised, in its own terms.
Is Iran uses barter system to buy Chinese goods, bypassing sanctions left or right?
Too few of the outlets on this story carry a published leaning rating to say. 10 of them do, and this site does not characterise a field under 12: at that size one newsroom filing moves the share by ten points. The percentages above are the count as it stands.
Is the coverage of Iran uses barter system to buy Chinese goods, bypassing sanctions biased?
Iran uses barter system to buy Chinese goods, bypassing sanctions is one event reported by 24 outlets, and this page does not rate the story as biased or unbiased. What it publishes is the spread: which outlets ran it, where named rating organisations place each of them on the spectrum, and what each side chose to lead with. A leaning rating describes an outlet's record over time, not this article, and the two should not be run together.
Which side is not reporting Iran uses barter system to buy Chinese goods, bypassing sanctions?
When we first saw this story, outlets rated left had barely covered it. Coverage accretes for hours after an event, so that is where to look rather than a verdict — the split above is the current count, and it is the one to read.
Which outlets covered Iran uses barter system to buy Chinese goods, bypassing sanctions?
24 that we know of, every one of them listed further up this page with a link to its own report and to what we hold on the publisher. Nothing here is a summary of somebody else's summary: the outlets are named so the original reporting can be read.
How does Iran use oil revenues to buy Chinese goods?
Iran converts its oil revenues into credits through a barter-like mechanism. These credits are then used to pay Chinese suppliers, bypassing direct international banking transfers and circumventing US sanctions on its oil exports.
What kind of goods does Iran purchase from China using this system?
Purchases through this mechanism include a range of items such as medicines, vehicles, communications equipment, and air-defence equipment. The system allows Iran to acquire these goods despite international sanctions.
What entities are reportedly involved in this trade arrangement?
The arrangement reportedly involves a China-based financial entity known as ChuXin and a Special Purpose Vehicle (SPV). These entities help manage the flow of funds and facilitate payments between Iranian oil revenues and Chinese suppliers.

Read it at the source

24 outlets, grouped by the leaning a published rating gives them. Every headline links to the original; an underlined outlet name opens our profile of that publisher.

Left

1

Centre

3

Right

6

Not rated

14
Show 6 more

How did this read?

About the coverage, not about the story. We do not ask whether you agree with what happened — we have no honest use for that answer.

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