China is financing the Iranian regime through a variety of means, including a shadow banking system that avoids international financial networks, with the Bank of Kunlun operating as a conduit for China-Iran trade. China and Iran have built a broad strategic partnership over several decades, encompassing economic, diplomatic, and security cooperation, much of which runs counter to U.S. foreign policy interests. The U.S.-China Economic and Security Review Commission has identified the two countries as part of an informal “Axis of Autocracy” alongside Russia and North Korea, a grouping united by a shared interest in challenging U.S. global leadership and reshaping the international order to favor authoritarian governance. China views Iran as a partner in balancing U.S. influence in the Middle East and as a supplier…
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