Domestic Bonds

Maduro says Venezuela and Iran will sign 20-year cooperation plan

June 10 (Reuters) – Venezuelan President Nicolas announced on Friday the signing of a 20-year cooperation plan with Iran as he arrived in Tehran for a two-day official visit.

In an interview with Iranian television channel Hispantv, Maduro announced the opening of a weekly air link from Caracas to Tehran and said that Venezuelan coffee could be sold to Iran, alongside plans to sign a agreement in different areas of cooperation.

Details of the cooperation plan were not provided.

Join now for FREE unlimited access to


Hispantv also said Maduro will meet Iranian President Ebrahim Raisi during the two-day visit.

Iran and Venezuela, both sanctioned by the United States, have since 2020 expanded their cooperation, especially for energy projects and oil exchanges, helping the Caribbean nation mitigate the effect of Washington’s measures.

In May, Iran’s state-owned National Iranian Oil Engineering and Construction Co signed a contract worth around 110 million euros to repair Venezuela’s smallest 146,000 barrel per day refinery.

The deal was sealed after recent negotiations involving Iranian Oil Minister Javad Owji, who was in Venezuela early last month and met with Maduro.

Maduro arrived in Tehran on Friday as part of an official trip that earlier this week included Turkey and Algeria. He said he was accompanied by ministers and officials in areas including agriculture, technology, oil, communications, tourism and transport.

Join now for FREE unlimited access to


Reporting by Dubai Newsroom and Vivian Sequera in Caracas; Written by Steven Grattan; Edited by Marianna Parraga; Editing by Leslie Adler

Our standards: The Thomson Reuters Trust Principles.