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Under U.S. sanctions, Iran and Venezuela sign 20-year cooperation plan -Breaking


© Reuters. Ebrahim Raisi, Iranian President, shakes hands during a welcome ceremony in Tehran (Iran), June 11, 2022. Website/WANA (West Asia News Agency/Handout via REUTERS)


(Reuters) – Iran and Venezuela are oil producers struggling with U.S. sanctions. On Saturday Tehran, the supreme leader of the Islamic Republic stated that the allies would resist Washington’s pressure.

Ebrahim Raisi (Iran President) and Nicolas Maduro (Venezuelan counterpart), watched the ceremony on Iranian TV. The event took place at Saadabad Palace, north Tehran.

This plan also includes cooperation in fields such as oil, petrochemicals and defence.

The repair and export of technical and engineering service as well as Venezuelan refineries are included.

Raisi of Iran said that Venezuela had shown an exemplary resistance to threats and sanctions from enemies and Imperialists. The cooperation agreement of 20 years is evidence that the countries are determined to establish ties.

“Sanctions against the Iranian country over the past forty plus years have been numerous. But the Iranian nation turned these sanctions into a chance for the country to progress,” he stated.

Maduro stated through an interpreter, that the weekly flight between Caracas and Tehran would start on July 18,

According to state media, the Supreme Leader Ayatollah Al Khamenei, vowed that Iran will continue supporting Venezuela despite U.S. pressures during a meeting.

Khamenei stated that the successful experiences of both countries proved resistance was the best way to handle these pressures. Iran is a close partner of the two nations. It has proven that Iran will take on risks when it’s in danger, but also holds onto its friendships.

Maduro stated that “You came to help us when Venezuela’s situation was extremely difficult, and no other country was supporting us.”

Iran, defying U.S. demands, has shipped several fuel cargoes to Venezuela as well as assisted in the repair of refineries. Venezuela started importing Iranian heavy crude last month. This was in addition to the swap agreement that had been signed last year for Iranian condensate and Venezuelan heavy crude.

Maduro, who had previously visited Turkey and Algeria, arrived Friday in Tehran with an elite political and economic delegation.

According to state media, Iran shipped Venezuela its second Aframax-sized oil tanker, which has a capacity for 800,000. Barrels. Since more than 10 years, US sanctions have been placed on SADRA for its ties to Iran’s Revolutionary Guards.

Iran’s National Iranian Oil Engineering and Construction Co (state-owned) signed a contract in May for the repair of Venezuela’s smaller, 146,000 barrel-per day refinery.