Iran and Venezuela signal 20-year cooperation plan

Iranian President Ebrahim Raisi and Venezuelan President Nicolas Maduro attend a information convention in Tehran, Iran, June 11, 2022.

Venezuela signed a 20-year cooperation plan in Tehran on Saturday as the 2 international locations, among the many world’s prime oil producers, grapple with U.S. sanctions which can be crippling their exports.
The signing ceremony, carried by Iranian state TV, was overseen by Iranian President Ebrahim Raisi and his Venezuelan counterpart Nicolas Maduro and befell on the Saadabad Palace in north Tehran.
The plan contains cooperation within the fields of oil, petrochemicals, defence, agriculture, tourism, and tradition and was signed by overseas ministers Hossein Amirabdollahian and Venezuela’s Carlos Faria.
It additionally contains restore of Venezuelan refineries and the export of technical and engineering companies.
“Venezuela has proven exemplary resistance in opposition to sanctions and threats from enemies and Imperialists,” Iran’s Raisi mentioned. “The 20-year cooperation doc is testimony to the desire of the 2 international locations to develop ties.”
“Sanctions and threats in opposition to the Iranian nation over the previous 40 plus years have been quite a few, however the Iranian nation has turned these sanctions into a possibility for the nation’s progress,” he mentioned.
Maduro mentioned via an interpreter {that a} weekly flight from Caracas to Tehran would start on July 18.
Maduro, who arrived in Tehran on Friday, is on a two-day go to and heads a high-ranking political and financial delegation. Earlier, he visited Turkey and Algeria.
Iran and Venezuela have expanded cooperation since 2020, notably in power initiatives and oil swaps.
In Might, Iran’s state-owned Nationwide Iranian Oil Engineering and Development Co signed a contract value about 110 million euros to restore Venezuela’s smaller 146,000 barrel-per-day refinery.
That settlement was sealed after latest negotiations attended by Iranian Oil Minister Javad Owji, who was in Venezuela early final month. (Reporting by Dubai Newsroom; modifying by Jason Neely)

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