Iranian Foreign Minister Mohammad Javad Zarif said on Monday that the 25-year-old comprehensive agreement with China is just a proposal and no agreement has been signed to that effect.
Zarif rejected the speculations with regard to Iran-China 25-year agreement and that Iran awarded special privileges to China.
The UK magazine, 'Petroleum Economist', has raised such a speculation that Zarif in his meeting with his Chinese counterpart Wang Li had presented a road map for the China-Iran comprehensive economic partnership signed in 2016.
"China will also be able to buy any and all oil, gas and petrochemical products at a minimum guaranteed discount of 12pc to the six-month rolling mean price of comparable benchmark products, plus another 6pc to 8pc of that metric for risk-adjusted compensation," it added.
The UK magazine wrote: "Given the exchange rates involved in converting these soft currencies into hard currencies that Iran can obtain from its friendly Western banks—including Europäisch-Iranische Handelsbank [in Germany], Oberbank [in Austria] and Halkbank [in Turkey]."