Signing of oil contracts between Iran and Venezuela with the visit of the Minister of Oil

According to the Fars International Economic Group, Bloomberg quoted informed sources as saying that Iranian Oil Minister Javad Oji has traveled to Caracas to visit Venezuela’s oil facilities and sign energy contracts.

According to these sources, Oji and more than 12 members of his entourage arrived in Caracas on Saturday. The Iranian oil minister and the head of the Venezuelan National Oil Company, Asdrobal Chavez, visited the Paraguana refinery complex in the west of the country. The two countries are expected to sign several energy contracts on Monday.

Iran and Venezuela are both under US sanctions and the US does not import oil from either of them. Nicholas MadaroVenezuelan President and officials Balartbeh In March, the United States sparked speculation that sanctions would be lifted and that Venezuelan oil would be released in the absence of Russian oil.

Iran and Venezuela have stepped up their cooperation under US sanctions. Caracas imports Iranian gas condensate to dilute its crude oil. Iran also sends refining products, engineering services and spare parts to Venezuela to help the country’s oil industry.

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