20-Year Cooperation Agreement between Venezuela and Iran

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Venezuelan President Nicolas Maduro, who is on an official visit to Iran, met with Iranian President Ibrahim Reisi in Tehran. After the meeting, it was announced that a 20-year strategic cooperation agreement was signed between the two countries, and as of July 18, direct flights between Tehran and Caracas will start once a week, initially.

Stating that their cooperation with Iran covers items such as energy, oil, gas, refinery, petrochemicals, finance and defense industries, Maduro claimed that both countries under international sanctions are at the forefront of the change towards a new polycentric world.

Noting that the two countries have an unshakable friendship, Maduro emphasized the importance of the financial agreement between the National Development Bank of Iran and Venezuela. He also stated that Iran has accomplished a miracle in food production and that Venezuela will also be inspired by it.

Experts state that the financial deal with Iran is about a new payment system, including Turkey and Russia, that will bypass international sanctions.

Maduro also announced that, within the framework of the agricultural agreements, Iran’s agricultural technology will be transferred to Venezuela and that agricultural production will be started on the territory of Venezuela with the cooperation of Iran.

“Iran is one of our most important allies”

Maduro, who gave an interview to Hispano TV broadcasting in Iran yesterday, prevented daily life from being completely paralyzed thanks to the fuel sent by Iran, despite international pressures, at a time when refineries in Venezuela became inoperable due to sanctions in 2020 and almost a liter of gasoline could not be produced. He said they could pass.

In 2020, Iran, another sanctioned oil country, sent supplies to Venezuela, which had difficulties in providing the spare parts, teams and equipment needed in the refineries, by planes, and in return, the gold bullion they received was transported to Iran by planes. Venezuela declared that it is illegal to send gold without parliamentary permission.

Inviting Iranian businessmen to invest in Venezuela, Maduro gave the example of Megasis, one of the busiest supermarkets in the capital Caracas, where mostly Iranian products are sold.

Speaking to the President of Iran, Maduro said, “As President, you can be sure that we will give all kinds of support to you and the Islamic Republic of Iran.”

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