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October 25, 2024
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Venezuela and Iran strengthen economic cooperation in oil and mining at the Brics Summit

Venezuela and Iran strengthen economic cooperation in oil and mining at the Brics Summit

Iran and Venezuela reinforce their alliance in the context of multipolar geopolitics, while reviewing cooperation agreements in oil, mining and health


President Nicolás Maduro and his Iranian counterpart, Masoud Pezeshkian, reviewed a series of bilateral agreements in key sectors such as oil, mining and health during a meeting at the Brics summit in Kazan, Russia.

According to the Venezolana de Televisión (VTV) media, both countries agreed in 2023 to increase their economic and commercial cooperation to 10 billion dollars, highlighting their central role in current geopolitics and as important players in the global energy market.

Maduro, through his Telegram channel, highlighted the “unbreakable unity” between Venezuela and Iran, which continues to advance with “giant steps” towards the construction of a multipolar world, free of colonialism and hegemony.

The president described the alliance between both nations as a “unitary bloc” that is committed to a new global geopolitics.

In 2022, Venezuela signed a 20-year agreement with Iran, focused on the energy sector, according to the Venezuelan Vice Presidency. In addition, Iran has expressed its support for Venezuela’s aspiration to join the BRICS, a bloc founded by Brazil, Russia, India, China and South Africa. However, that entry was vetoed by Brazil, which the Venezuelan government considers a “hostile gesture” and “aggression.”

*Read also: Venezuela denounces as “aggression” Brazil’s veto for its entry into the Brics


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