Why will China back Iran?

Simple! Its economy.

China is involved in various major economy deals with the islamic republic. The latest in this line of partnership is the plans to develop Iran's Yadavaran oil field.

The deal alone is worth about US$100 billion. Media reports are saying that the deal could be signed in March - just before any potential sanctions are imposed on Iran by the UN for its nuclear ambitions.

For its part, in exchange for developing Yadavaran, one of Iran's largest onshore oil fields, China would agree to buy 10 million tons of liquefied natural gas a year for 25 years beginning in 2009.

China needs this oil field to feed its fuel-hunger consumers. This Iran venture is just part of China's global effort in owning its own fuel production line. It has been snapping up energy resources in places as far flung as Venezuela, Kazakhstan, Nigeria, Sudan and Australia.

This being China's problem, why should it be part of the UN Security Council to propose an economic sanction against Iran? Or worse still, why should it back a military action?

With China and Russia being in its side, its not hard to see why Iran is not shivering with fear with US and the European threat of sanctions.

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