Overview

• Returning from the Tianjin summit, President Masoud Pezeshkian said implementing the agreements would create favorable prospects for Iran in the economy, security, science and tourism.
• Independent analysis reports that the SCO still lacks a shared financial messaging system or multilateral clearing house, limiting practical de-dollarization for Iran.
• Key International North-South Transport Corridor segments in Iran remain unfunded or stalled, including the Rasht–Astara line where a Russian loan announced in 2024 is not operational.
• Chinese state banks and firms are described as reluctant to underwrite major Iranian projects due to commercial risk, missing guarantees and exposure to U.S. secondary sanctions.
• Iranian and Chinese officials voiced intent to advance bilateral understandings during Pezeshkian’s visit, yet analysts say Tehran continues to rely on grey-market channels as rival transit routes gain traction.