BEIJING, 28 March, 2021, (TON): Iran and China on Saturday signed a 25-year key collaboration understanding tending to monetary issues in the midst of devastating US sanctions on Iran.

The agreement dubbed the Comprehensive Strategic Partnership, covers a variety of economic activity from oil and mining to promoting industrial activity in Iran, as well as transportation and agricultural collaborations, according to the report. No additional details of the agreement were revealed as Iran's Foreign Minister Mohammad Javad Zarif and Chinese counterpart Wang Yi took part in a ceremony marking the event.

Before the ceremony Saturday, Yi met Iranian President Hassan Rouhani and a special Iranian envoy in charge of the deal Ali Larijani.

Saeed Khatibzadeh, spokesman for Iran's Foreign Ministry, on Friday called the agreement “deep, multi-layer and full-fledged.” 

The deal, which had been discussed since 2016, also supports tourism and cultural exchanges. It comes on the 50th anniversary of the establishment of diplomatic relations between China and Iran.

The two nations have had warm relations and both participated in a joint maritime exercise in 2019 with Russia in the northern Indian Ocean.