Iran and Venezuela signed a 20-year cooperation agreement on Saturday in Tehran, as the two countries, which are among the world’s top oil producers, battle US sanctions that are damaging their exports.
Iranian and Venezuelan Presidents Ebrahim Raisi and Nicolas Maduro presided over the signing event, which was broadcast live on Iranian state television and took place in the Saadabad Palace in north Tehran.
Foreign ministers Hossein Amirabdollahian and Carlos Faria of Venezuela inked the plan, which includes cooperation in the domains of energy, petrochemicals, defense, agriculture, tourism, and culture.
It also covers refinery repairs and the export of technical and engineering services from Venezuela to Iran.
‘Strengthening Ties’
“Venezuela has demonstrated exceptional resistance to sanctions and threats from adversaries and imperialists, “The 20-year collaboration document demonstrates the two countries’ desire to strengthen ties.”
says Razi.
“The Iranian nation has faced numerous sanctions and threats over the last 40 years, but the Iranian nation has converted these restrictions into a chance for the country’s progress,”
he continued.
A weekly trip from Caracas, Venezuela to Tehran, Iran will commence on July 18, Maduro declared through an interpreter.
Maduro, who arrived in Tehran on Friday, is leading a high-ranking political and economic delegation on a two-day visit. He has already traveled to Turkey and Algeria.
Since 2020, Iran and Venezuela have increased their collaboration, mainly in energy projects and oil exchanges.
Iran’s state-owned National Iranian Oil Engineering and Construction Co inked a contract in May for the restoration of Venezuela’s smaller 146,000 barrel-per-day refinery valued at around 110 million euros.
That agreement was sealed after recent negotiations attended by Iranian Oil Minister Javad Owji, who was in Venezuela early last month.
