Iran sells its oil to China because China can ignore the US sanctions and can pay Iran outside of the USD/SWIFT/IMF structure.
Ditto Russia.
Iran is a member of BRICS and mBridge along with Russia, Saudi Arabia and UAE.
They are all enabling digital payments trade payments based upon Chinese/mBridge because China buys most of the oil and China provides a viable alternative to the USD/SWIFT hegemony.
China dominates global trade in commodities and manufactured goods and so China is the 'boss' and both historically and logically dominance in trade leads to dominance in trade payments protocols.
Iran sells its oil to China because China can ignore the US sanctions and can pay Iran outside of the USD/SWIFT/IMF structure. Ditto Russia. Iran is a member of BRICS and mBridge along with Russia, Saudi Arabia and UAE. They are all enabling digital payments trade payments based upon Chinese/mBridge because China buys most of the oil and China provides a viable alternative to the USD/SWIFT hegemony. China dominates global trade in commodities and manufactured goods and so China is the 'boss' and both historically and logically dominance in trade leads to dominance in trade payments protocols.