HomeWorld NewsUnder US sanctions, Iran and Venezuela sign 20-year cooperation plan

Under US sanctions, Iran and Venezuela sign 20-year cooperation plan

June 11 (Reuters) – Oil producers Iran and Venezuela grappling with crippling U.S. sanctions signed a 20-year cooperation plan in Tehran on Saturday, with the Islamic Republic’s supreme leader saying the allies would continue to work. resist pressure from Washington.

The signing ceremony, broadcast by Iranian state television, was overseen by Iranian President Ebrahim Raisi and his Venezuelan counterpart Nicolas Maduro and took place at Saadabad Palace, north of Tehran.

The plan includes cooperation in oil, petrochemicals, defence, agriculture, tourism and culture.

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It also includes the repair of Venezuelan refineries and the export of technical and engineering services.

“Venezuela has shown exemplary resistance against sanctions and threats from enemies and imperialists,” Iran’s Raisi said. “The 20-year cooperation document demonstrates the will of the two countries to develop their relations.”

“Sanctions and threats against the Iranian nation over the past 40 years have been many, but the Iranian nation has turned these sanctions into an opportunity for the country’s progress,” he said.

Maduro said through an interpreter that a weekly flight from Caracas to Tehran would start on July 18.

In a meeting with Maduro, Supreme Leader Ayatollah Ali Khamenei promised Iran would continue to support Venezuela in the face of US pressure, according to state media.

“The successful experience of both countries has shown that resistance is the only way to deal with these pressures,” Khamenei said. “The two countries have such close ties with no other country, and Iran has shown that it takes risks in times of danger and holds the hand of its friends.”

Maduro said: “You came to our aid when the situation in Venezuela was very difficult and no country was helping us.”

Defying US pressure, Iran sent several shipments of fuel to Venezuela and helped repair refineries. Last month, Venezuela began importing Iranian heavy crude, expanding a swap deal signed last year to swap Iranian condensate for Venezuelan heavy crude. Read more

Maduro arrived in Tehran on Friday with a high-ranking political and economic delegation after visiting Turkey and Algeria.

During the visit, Iran delivered to Venezuela the second of four Aframax-sized tankers with a capacity of 800,000 barrels ordered from Iranian company SADRA, state media said. SADRA has been under US sanctions for more than a decade for its ties to Iran’s elite Revolutionary Guards.

In May, Iran’s state-owned National Iranian Oil Engineering and Construction Co signed a contract worth around 110 million euros to repair Venezuela’s smallest 146,000 barrel per day refinery.

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Reporting from Dubai Newsroom; Editing by Jason Neely, Angus MacSwan and Diane Craft

Our standards: The Thomson Reuters Trust Principles.

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