Sanctions-hit Iran, Venezuela sign 20-year cooperation deal

Sanctions-hit Iran, Venezuela sign 20-year cooperation deal

Sanctions-hit Iran, Venezuela sign 20-year cooperation deal

Iran and Venezuela signed a 20-year deal on cooperation between the two allies subject to U.S. sanctions during a visit on the weekend to the Islamic republic by Venezuelan President Nicolas Maduro.    

The inking of the agreement “shows the determination of the high-level officials of the two countries for development of relations in different fields,” Iranian President Ebrahim Raisi said.    

Maduro, speaking at a joint news conference in Tehran, said the cooperation covered the energy and financial sectors as well as “work together on defence projects”.    

“Venezuela has passed hard years but the determination of the people, the officials and the president of the country was that they should resist the sanctions,” Raisi said during the news conference.    

In addition to the 20-year accord inked by the two countries’ foreign ministers, “Iran and Venezuela signed documents on cooperation in the political, cultural, tourism, economic, oil and petrochemical fields,” state news agency IRNA said.    

“We have important projects of cooperation between Iran and Venezuela in the fields of energy, petrochemical, oil, gas and refineries,” Maduro said.            

From July 18, direct flights would operate between Caracas and Tehran “in order to promote tourism and the union between our countries,” he said, adding that “Venezuela is open to receive tourists from Iran”.    

The two presidents took part via videoconference in a ceremony marking the delivery of the second of four Iranian-built oil tankers to Venezuela, IRNA reported.