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

TEHRAN, 13 June 2022, (TON): Iran and Venezuela signed a 20-year deal on cooperation between the two allies subject to US sanctions during a visit to the Islamic republic by Venezuelan President Nicolas Maduro.

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

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

Alongside the likes of Russia, China, Cuba and Turkey, Iran is one of Venezuela’s main allies. And like Venezuela it is subject to tough US sanctions.

Iranian president says “Resistance will work and will force the enemy to retreat.”

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