Iran and Venezuela flirt with oil

25 October 20212 years ago babelfish

The agreement between Iran and Venezuela aims to strengthen the two economies, especially on oil. Giuseppe Gagliano's analysis

According to the newspaper Al Jazeera , Iran is expected to sign a bilateral agreement with Venezuela, an agreement that will be officially signed when Venezuelan President Maduro visits Tehran.

The announcement of this agreement was given to Tehran by the Iranian foreign minister Hossein Amirabdollahian during a press conference with his Venezuelan counterpart Felix Plasencia.

There is no doubt that such cooperation is being made to strengthen their respective economies, especially in the oil sector through the National Iranian Oil Company. As there is no doubt that this synergy on the one hand makes it possible to nullify American sanctions and on the other hand constitutes an anti-American alliance.

The relationship between the Iranian national company and the Venezuelan one allows for a constant supply of condensate, which it needs to dilute the production of extra heavy oil from the Orinoco belt, its largest producing region. Bituminous crude oil requires mixing before it can be transported and exported.

In return, Iran receives shipments of Venezuelan heavy oil that it can market in Asia. Of course, US intelligence is well aware of these reports, as evidenced by the fact that last year the Trump administration seized over 1 million barrels of Iranian fuel bound for Venezuela and blacklisted five tanker captains, such as part of a “maximum pressure” strategy.

Despite the strategy put in place by the Trump administration, bilateral relations between Venezuela and Iran continue, as evidenced by the fact that the State Department is perfectly aware that the recent agreements between Iran and Venezuela would allow the Venezuelan oil company, namely PDVSA , to increase exports.

This is a machine translation from Italian language of a post published on Start Magazine at the URL https://www.startmag.it/mondo/iran-venezuela-accordo-petrolio/ on Mon, 25 Oct 2021 06:19:13 +0000.