During Venezuelan President Nicolas Maduro’s visit to Tehran on Saturday, the two countries signed a 20-year cooperation deal.
The comprehensive agreement envisions cooperation in the sectors of energy, petrochemicals, science and technology, agriculture, tourism, and culture between the two sanctioned countries.
Iranian President Ebrahim Raisi described relations between Tehran and Caracas as “strategic” during the signing ceremony, adding the long-term pact is a symbol of the two countries’ desire to strengthen cooperation.
Raisi said the two sides have strengthened cooperation in the fields of energy, thermal power, fuel delivery to Venezuelan refineries, and export of technical services, pointing to the potential in their bilateral ties.
He also announced the inauguration of direct flights between Tehran and Caracas, which he claims will establish a foundation for cooperation and boost trade connections between the two countries.
He praised Venezuela for its “exemplary opposition” to US sanctions, saying Iran is looking to strengthen ties with “independent countries.”
Due to punishing US sanctions, the two nations have increased bilateral cooperation in recent years, with Tehran transferring several cargoes of crude to Caracas.