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Much of the trade in wheat between Russia and Iran goes through Switzerland, a transaction that, though exempt from sanctions, is a sensitive issue.

"This is a huge diplomatic victory for China and definitely an unprecedented step in Beijings diplomatic engagement with the region," expert Jacopo Scita said.

Prolonged negotiations over security assurances preceded Beijing's breakthrough in restoring diplomatic relations, sources say.

Analysis: China's historical neutrality in conflicts between Riyadh and Tehran has put it in a strategic position as a mediator, as Beijing continues to assert a more active role in the region.

The renewal of ties between bitter rivals Saudi Arabia and Iran, brokered by China, heralds the shifting geopolitics in the Middle East.

The renewal of ties between bitter rivals Saudi Arabia and Iran, brokered by China, heralds the shifting geopolitics in the Middle East.

The surprise announcement of a resumption of diplomatic ties between Saudi Arabia and Iran, thanks to a deal brokered by Beijing, underscores regional governments’ interest in a de-escalation of tensions — and China’s willingness to wield its economic clout to achieve it.

The content originally appeared on: CNN Editor's Note: A version of this story appears in today's Meanwhile in the Middle East newsletter, CNN&#03 ...

Tehran and Moscow have shown serious political will to expand economic ties, but challenges remain.

Iranians are finding it harder than ever to afford even basic goods as political unrest roils the country and the government cracks down harshly.