Rory Jones
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Mideast correspondent for @WSJ in Dubai. Frequent twit, infrequent tweeter.
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Articles by Rory Jones
イラン、対米戦での秘密兵器は「中国の支援」
今夏、米国とイランが一時的な停戦に合意した際、中国は中東の緊張緩和で自国が果たした役割を誇示した。中国外務省は和平を促すために数十回の電話協議を重ねたほか、習近平国家主席自身も戦闘終結に向けた提案を示して介入したという。 その同じ日、中国からの航空機がイランの首都テヘランに着陸した。ウォール・ストリート・ジャーナル（WSJ）が分析したイランの税関データによると、この航空機はイラン国防省向けの貨物を積んでおり、その中にはドローン（無人機）やミサイル誘導システムの部品製造に使用可能な電子部品が含まれていた。 Copyright ©2026 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8
伊朗对抗美国的秘密武器：来自中国的支持
今年夏天，当美伊两国签署临时停火协议时，中国高调宣扬了自身在缓和中东紧张局势中发挥的作用。中方称，中国外交部数十次致电有关方面以推动和平进程，中国国家主席习近平也亲自出面斡旋，提出了结束冲突的建议。 然而就在同一天，一架来自中国的飞机降落在德黑兰。根据《华尔街日报》(The Wall Street Journal)对伊朗海关数据的分析，这架飞机为伊朗国防部运送了一批货物，其中包括可用于制造无人机和导弹制导系统零部件的电子元件。 Copyright ©2026 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8 立即订阅 特朗普希望维持与习近平的关系，但伊朗海关数据显示，中国实体已向伊朗运送了数千批可用于无人机和导弹的零部件。 中国国家主席习近平周三抵达美国，将与美国总统特朗普举行峰会。 图片来源：BRENDAN SMIALOWSKI/AFP/GETTY IMAGES
Iran Has a Secret Weapon in Its War With America: Help From China
This summer, when the U.S. and Iran signed a temporary truce, China touted its role in easing tensions in the Middle East. It said its foreign ministry made dozens of calls to nudge peace along, and that President Xi Jinping himself had intervened with suggestions to end the fighting. That same day, a plane from China landed in Tehran.
Iran Has a Secret Weapon in Its War With America: Help From China
3:02 2 hours ago Watch Trump's priceless reaction during Xi's welcome military jet flyover New York Post • 2h A military flyover during Chinese President Xi's US arrival appeared to surprise President Trump, as loud jets flew over the pair during the national anthem. Trump, joined by first lady Mela… Religion Now Some climb for faith, others for the views.
Barrels of sake and rooftop galas: Energy traders toast the war boom
SINGAPORE—The crowd gasped as the brokers swung the wooden mallets on the lid of the sake barrel, cracking it open in celebration. “Everyone please give them a hand,” the MC said, as Japanese liquor was passed around. The party, held in the Rendezvous Hotel, was hosted by BGC Group, a U.S.-listed brokerage who has seen its fortunes boom since the Iran war upended global energy markets. It isn't the only one.
Barrels of Sake and Rooftop Galas: Energy Traders Toast the War Boom — WSJ
By Rory Jones and Rebecca Feng SINGAPORE-The crowd gasped as the brokers swung the wooden mallets on the lid of the sake barrel, cracking it open in celebration. "Everyone please give them a hand," the MC said, as Japanese liquor was passed around. The party, held in the Rendezvous Hotel, was hosted by BGC Group, a U.S.-listed brokerage whose fortunes have boomed since the Iran war upended global energy markets. It isn't the only one.
How Billions in Iranian Money Passes Through U.S. Banks
How Billions in Iranian Money Passes Through U.S. Banks Illicit Iranian funds are flowing through U.S.-dollar clearing accounts, creating an enforcement dilemma for Washington Read Full Article »
伊朗资金如何绕过制裁，进入美元清算体系
特朗普(Trump)政府正在收紧对伊朗的经济绞索，而美国在试图切断伊朗与全球金融体系联系的行动中，却面临着一个出人意料的薄弱环节：美国本土银行。 西方官员和研究人员表示，尽管制裁禁止任何受美国法律管辖的个人或实体参与几乎所有与德黑兰相关的金融活动，但每年仍有数以十亿计美元的伊朗资金通过美资银行的清算账户流动。 Copyright ©2026 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8
イランの巨額資金、制裁下でも「米銀経由」のカラクリ
トランプ米政権はイランに対する経済的圧力を強めているが、同国政権を国際金融システムから遮断する取り組みにおいて意外な弱点が露呈している。それは米国自身の銀行だ。 西側当局者や研究者によると、制裁によって、米国法の適用対象者はイラン政府に関連するほぼ全ての金融活動に関与することが禁じられているにもかかわらず、毎年数十億ドルのイラン資金が米銀の決済口座を経由している。 Copyright ©2026 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8
How Billions in Iranian Money Passes Through U.S. Banks
Illicit Iranian funds are flowing through U.S.-dollar clearing accounts, creating an enforcement dilemma for Washington As the Trump administration tightens its economic squeeze on Iran, it faces a surprising weak link in its campaign to cut off the regime from the global financial system: America’s own banks.
How Billions in Iranian Money Passes Through U.S. Banks
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WSJ ⟩ USA katsub kägistada Iraani majandust. Uurime, kuidas neil hing sees püsib
THE WALL STREET JOURNAL TELLIJALE Artikli sisu pärineb partnerväljaandest The Wall Street Journal. Valuutavahetaja 17. augustil Teheranis riaalide vastu dollareid pakkumas. Foto: Majid Asgaripour / via REUTERS Loe kokkuvõtet Trumpi administratsioon on käivitanud Iraani finantsiliseks pitsitamiseks operatsiooni Economic Outcast ehk «majandusheidik» ning üritab islamirežiimilt järeleandmisi välja pigistada.
米の経済圧力、イランが耐え抜く5つの方法
This copy is for your personal, non-commercial use only. Distribution and use of this material are governed by our Subscriber Agreement and by copyright law. For non-personal use or to order multiple copies, please contact Dow Jones Reprints at 1-800-843-0008 or visit www.djreprints.com. https://jp.wsj.com/articles/the-u-s-is-trying-to-strangle-irans-economy-heres-how-tehran-is-surviving-4927ad71
The U.S. Is Trying to Strangle Iran’s Economy. Here’s How Tehran Is Surviving.
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The U.S. Is Trying to Strangle Iran’s Economy. Here’s How Tehran Is Surviving.
The U.S. Is Trying to Strangle Iran’s Economy. Here’s How Tehran Is Surviving. Floating oil tankers, Chinese buyers and shell companies help Tehran evade sanctions The Trump administration launched “ Operation Economic Outcast” to squeeze Iran financially and try to force the regime into concessions to end the conflict in the Middle East. Washington is warning world leaders to …
The U.S. Is Trying to Strangle Iran’s Economy. Here’s How Tehran Is Surviving.
The Trump administration launched “Operation Economic Outcast” to squeeze Iran financially and try to force the regime into concessions to end the conflict in the Middle East. Washington is warning world leaders to stop doing business with Iran and threatening to cut companies from the U.S. financial system should they do so. The U.S. is simultaneously blockading Iranian ports, choking off the regime’s primary financial lifeline. Copyright ©2026 Dow Jones & Company, Inc. All Rights Reserved.
米の対イラン制裁拡大、中国を直接標的とせず
Bessent Threatens New Sanctions on Countries in Business With IranPlay video: Bessent Threatens New Sanctions on Countries in Business With Iran
美国向伊朗施压，但未将其最大生命线中国作为目标
This copy is for your personal, non-commercial use only. Distribution and use of this material are governed by our Subscriber Agreement and by copyright law. For non-personal use or to order multiple copies, please contact Dow Jones Reprints at 1-800-843-0008 or visit www.djreprints.com.
US squeezes Iran but avoids targeting its biggest lifeline: China
The U.S. launched what it described as an unprecedented campaign to cripple Iran's economy by cutting off “every remaining lifeline” sustaining the country. Yet unmentioned in Scott Bessent's speech announcing “Operation Economic Outcast” was the country that has enabled Iran to withstand years of American pressure: China.
U.S. Squeezes Iran but Avoids Targeting Its Biggest Lifeline: China
The U.S. launched what it described as an unprecedented campaign to cripple Iran’s economy by cutting off “every remaining lifeline” sustaining the country. Yet unmentioned in Scott Bessent’s speech announcing “Operation Economic Outcast” was the country that has enabled Iran to withstand years of American pressure: China.
富途遭中国政府整顿，亿万富豪李华事业受阻
李华(Leaf Li)表示，他的灵感来自嘉信理财(Charles Schwab)。这位中国亿万富豪2012年创办了自己的经纪公司，目标很简单：将股票投资带给亚洲大众。 不到十年时间，他建立了一家业务横跨中国内地、香港、亚洲其他市场和美国的公司。与他的美国偶像一样，李华的业务重心也从单纯的交易转向通过公募基金和咨询服务来管理客户财富。 Copyright ©2026 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8
This Billionaire Became China’s Charles Schwab. Then Beijing Cracked Down.
Leaf Li’s brokerage has become a central target in the government’s campaign to control the flow of Chinese money offshore A Futu storefront in Hong Kong. Lam Yik/Bloomberg Leaf Li said his inspiration came from Charles Schwab. The Chinese billionaire started his brokerage in 2012 with a simple goal: bring stock investing to the Asian masses.
This Billionaire Became China’s Charles Schwab. Then Beijing Cracked Down.
Now This Billionaire Became China’s Charles Schwab. Then Beijing Cracked Down. Israel Rejects Next Phase of Trump’s Gaza Peace Plan Alleged Irish Crime Boss Extradited From U.A.E., Ending Yearslong Hunt Spain Has a Simple Explanation for Why Migrants Flooded Across Border Trump Thought Opening the Strait …
中国富豪借离岸架构积累财富的时代正在终结
几十年来，中国科技企业的创始人和投资者利用设在避税天堂的空壳公司在海外上市，并将数以十亿美元计的资金留在离岸中心。借助这一漏洞，中国超级富豪得以绕过严格的资本管制，并避开政府对其财富的监管。 如今，这一盛宴正在走向终结。通过一系列新规和法律，中国正在重塑财富流动格局，试图更好地控制资金流出境外的途径，其影响已波及海外。 Copyright ©2026 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8
China's tycoons made fortunes offshore. Now the party is over.
SINGAPORE—For decades, founders and investors in China's technology firms used tax-haven shell companies to list overseas and keep billions of dollars in offshore centers. The loophole allowed China's superrich to bypass strict capital controls and avoid government oversight of their wealth. Now, the party is ending. In a series of new rules and laws, China is reordering the wealth landscape, seeking to better control how money leaves the country, with effects rippling beyond its borders.
China’s Tycoons Made Fortunes Offshore. Now the Party Is Over.
China’s Tycoons Made Fortunes Offshore. Now the Party Is Over. Beijing is reordering its rules for the superrich to get more control over how they invest overseas SINGAPORE—For decades, founders and investors in China’s technology firms used tax-haven shell companies to list overseas and keep billions of dollars in offshore centers. The loophole allowed China’s …
China’s Tycoons Made Fortunes Offshore. Now the Party Is Over.
Beijing is reordering its rules for the superrich to get more control over how they invest overseas July 26, 2026 10:00 pm ET The listing ceremony at the Hong Kong Stock Exchange. Paul Yeung/Bloomberg News SINGAPORE—For decades, founders and investors in China’s technology firms used tax-haven shell companies to list overseas and keep billions of dollars in offshore centers. The loophole allowed China’s superrich to bypass strict capital controls and avoid government oversight of their wealth.
Lines to live by: Eight debut authors share the literary quotes that shaped them
Books July 12, 2026 7 Min Read Simukai Chigudu, Jem Calder, Kenan Orhan and more on the lines that inspired their books and continue to enrich their lives. Writer In the record business they have a refrain: you have your whole life to write your first album. A debut novel is much the same, it can feel like the statement of a long-lived thesis or the discovery of a career-defining theme.
The cooling divide: How air-conditioning is creating a new climate inequality
For decades, people in Britain tended to view air-conditioning as something that belonged elsewhere. It was associated with office buildings, hotels and hotter countries rather than their own homes. But as summers become warmer and heatwaves more frequent, that picture is beginning to change. Colleagues and I analysed data from the English Housing Survey, a nationally representative sample of about 16,000 households.
The cooling divide: how air conditioning is creating a new climate inequality
For decades, people in the UK tended to view air conditioning as something that belonged elsewhere. It was associated with office buildings, hotels and hotter countries rather than their own homes. But as summers become warmer and heatwaves more frequent, that picture is beginning to change. Colleagues and I analysed data from the English Housing Survey, a nationally representative sample of about 16,000 households.
The cooling divide: how air conditioning is creating a new climate inequality Original
For decades, people in the UK tended to view air conditioning as something that belonged elsewhere. It was associated with office buildings, hotels and hotter countries rather than their own homes. But as summers become warmer and heatwaves more frequent, that picture is beginning to change. Colleagues and I analysed data from the English Housing Survey, a nationally representative sample of about 16,000 households.
伊朗如何利用人民币削弱美国影响力
长期以来，美元的霸权地位一直让华盛顿在管控全球商业时占据极大优势。大多数以美元计价的国际交易都必须通过美国的银行进行结算。这不仅让华盛顿能够对这些交易进行监控，还能在必要时通过制裁切断用户的美元供应，从而使其业务陷入瘫痪。 然而，美国的对手正日益转向中国的金融体系和人民币来进行交易。通过绕开美国主导的银行体系，他们削弱了华盛顿的制裁执行力。 Copyright ©2026 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8
What to Know About How Iran Uses China’s Currency to Weaken U.S. Power
A WSJ investigation revealed how Iran is increasingly using China’s financial system to evade sanctions and avoid Washington oversight More of the world’s illicit activity to evade sanctions is being handled in yuan. Sheldon Cooper/SOPA Images/ZUMA Press The dominance of the U.S. dollar has historically given Washington a major advantage in policing global business.
イランで米国を出し抜く中国、その手口とは
米国はイランとの新たな核合意に向けた交渉に入っており、そこでは米国がこれまで強みとしてきた手段、すなわち「制裁緩和の約束」と「凍結資産約1000億ドル（約16兆円）の一部解放」を頼りにしている。 しかし、その効果は弱まりつつある。イランはここ数年、米政府の監視が行き届かない、人民元を基盤とする中国の金融枠組みを巧みに活用することで、米国の制裁措置を骨抜きにしてきた。 Copyright ©2026 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8
Così Cina e Iran usano lo yuan per aggirare le sanzioni Usa
Aggiungi Milano Finanza alle tue fonti preferite su Google per non perderti i nostri contenuti La Casa Bianca ha avviato colloqui con l’Iran per un nuovo accordo sul nucleare facendo affidamento su una tradizionale leva negoziale: la promessa di un alleggerimento delle sanzioni e l’accesso a una parte dei circa 100 miliardi di dollari di asset congelati. Tuttavia, questo strumento sta progressivamente perdendo efficacia.
中国正吸引全球转向人民币并削弱西方制裁
白宫已与伊朗就一项新的核协议展开谈判，并依赖于一项传统实力：承诺放松制裁，并允许伊朗动用约1,000亿美元被冻结资产中的一部分。 然而，这一筹码的效果正在减弱。近年来，德黑兰通过使用基于人民币的中国金融架构成功降低了美国制裁行动的影响。该架构在华盛顿的管辖范围之外运行。 Copyright ©2026 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8
How China Undercuts the U.S. in Iran
Alexandra Citrin-Safadi/WSJ; iStock The White House has entered talks with Iran over a new nuclear deal, relying on a traditional strength: the promise of sanctions relief and access to some of roughly $100 billion in frozen assets. Yet, that leverage is waning. Tehran has blunted the U.S. sanctions campaign in recent years by successfully using China’s financial architecture—built on the yuan—that operates beyond Washington’s reach.
美国加码经济战，对手却毫不退缩
过去18个月里，美国对伊朗实施了1,000多项制裁，意在通过更广泛的施压行动迫使德黑兰屈服。 伊朗迄今为止都顶住了这些制裁，这向华盛顿揭示了一个残酷的事实：经济施压基本上未能让流氓政权屈服，因为这些政权总能想方设法绕过美国的限制。 Copyright ©2026 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8
The US is ramping up economic warfare. Its enemies aren’t blinking.
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The U.S. Is Ramping Up Economic Warfare. Its Enemies Aren’t Blinking.
Iran, Russia and North Korea master the art of evading U.S. sanctions A banner in Tehran showing former Iranian leaders. Vahid Salemi/AP The U.S. has unleashed more than 1,000 sanctions on Iran over the past 18 months as part of its wider campaign to squeeze Tehran into submission.
Why are we asking AI all our silly questions when our partners have all the answers?
Last week, while catching up with a friend under the low lights of an east London restaurant, she suddenly announced that she had split up with her partner (writes Rory Jones). A four-year relationship, burned away with the quick intensity of flashpaper. I asked why. She played the hits: lack of communication, different life stages, et cetera.
AI割安株、中国ならまだ見つかる
【シンガポール】人工知能（AI）を巡る熱狂は、米国市場やアジア市場でテック企業の株価を天井知らずに押し上げている。それでも、割安な銘柄がまだ残っている国がある。中国だ。 その株式市場は、中国のテック覇者たちが織りなす「パラレルワールド（並行世界）」を特徴としている。そこには、アマゾン・ドット・コムではない電子商取引（EC）の巨人、グーグルではない検索エンジン兼ロボタクシー企業、そして台湾積体電路製造（TSMC）とは異なる4文字の社名を持つ半導体メーカーが君臨している。 Copyright ©2026 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8
全球AI热潮下的另类存在：部分中国AI股票仍是“估值洼地”
人工智能(AI)热潮推动美国和亚洲市场的科技公司估值一飞冲天。但有一个国家仍存在一些相对划算的投资机会：中国。 股市中存在一个由中国科技领军企业组成的平行宇宙：一家不是亚马逊(Amazon)的电商巨头，一家不是谷歌(Google)的搜索引擎和无人驾驶出租车公司，以及一家英文简称由四个字母组成但不是台积电(TSMC)的芯片制造商。 Copyright ©2026 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8
A place where some AI stocks are still cheap: China
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A Place Where Some AI Stocks Are Still Cheap: China
SINGAPORE—The frenzy over artificial intelligence is sending technology-company valuations through the roof in the U.S. and Asian markets. One country still offers some relative bargains: China. Stock markets feature a parallel universe of Chinese technology champions: an e-commerce giant that isn’t Amazon, a search-engine and robotaxi company that isn’t Google and a chip manufacturer with a four-letter name other than TSMC. Copyright ©2026 Dow Jones & Company, Inc. All Rights Reserved.
インドのAIジレンマ：グーグルに補助金、地元は水不足
インド・ビシャカパトナムのスラム居住者にとって水の供給は懸念事項となっているWater supplies are a concern for slum residents in Visakhapatnam, India.
印度AI时代的两难现实：谷歌获巨额补贴，当地居民用水却受限 - WSJ
去年，谷歌(Google)进驻这座宁静的印度沿海城市，当地政府热烈欢迎，为这家美国公司提供了价值数十亿美元的激励措施，以帮助其建设人工智能(AI)数据中心。 一些当地居民从未听说过AI，更不用说Gemini和ChatGPT了。 Copyright ©2026 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8
Big Subsidies for Google, Limited Water for Locals: The Dilemma of AI in India
Water supplies are a concern for slum residents in Visakhapatnam, India. VISAKHAPATNAM, India—When Google arrived last year in this sleepy coastal Indian city, the government rolled out the welcome mat, offering billions of dollars’ worth of incentives for the U.S. company to build data centers for artificial intelligence. Some residents had never heard of AI, much less Gemini and ChatGPT.
Big Subsidies for Google, Limited Water for Locals: The Dilemma of AI in India
VISAKHAPATNAM, India—When Google arrived last year in this sleepy coastal Indian city, the government rolled out the welcome mat, offering billions of dollars’ worth of incentives for the U.S. company to build data centers for artificial intelligence. Some residents had never heard of AI, much less … The Wall Street Journal.
London's National Gallery is getting a new wing courtesy of Kengo Kuma
The £750m (€862m) Project Domani will include a newly converted public rooftop and connect Leicester Square and Trafalgar Square. For the design of its most significant expansion since opening more than 200 years ago, the National Gallery in London has tapped 71-year-old Japanese architect Kengo Kuma. Famed for his work on Tokyo's Olympic stadium, Kuma won over the gallery's jury panel with his proposal for a hefty buildout.
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