Daily Times

Iran and Venezuela signed a 20-year deal on cooperation between the two allies subject to US sanctions during a visit Saturday to the Islamic republic by Venezuela’s President Nicholas Maduro.

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

Maduro, speaking at a joint news conference in the Iranian capital, said the cooperation covered the energy and financial sectors as well as “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.

“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, quoted by state television.

“This is a good sign that proves to everyone that resistance will work and will force the enemy to retreat,” the Iranian president added.

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.