The agreement applies to the energy and financial sectors and also to “work together on defense projects”, Venezuelan President Nicolás Maduro announced at a joint press conference with Iranian President Ebrahim Raisi in Tehran.
The countries are close allies and are both subject to US sanctions. Ayatollah Ali Khamenei highlighted in a comment on his website that the only way to respond to US pressure is to “stand up and resist”.
The cooperation also includes tourism and in July opens a direct flight between Caracas and Tehran.