Iranian President Ebrahim Raisi arrived in Venezuela on Monday, June 12, on the first leg of his five-day visit to three Latin American countries. He is also slated to visit Cuba and Nicaragua. The visit is significant since these countries, like Iran, are affected by unilateral sanctions imposed by the US.
Underlining the significance of his visit, Raisi claimed before leaving for Latin America that relations between the Islamic Republic of Iran and independent countries are “strategic.” He said that “our common position with these three countries is opposition to the [world’s] hegemonic system and unilateralism.”
Raisi is traveling with a large delegation which includes the foreign, defense, petroleum and health ministers, along with other high officials. He is expected to sign bilateral agreements in all three countries to increase trade and cooperation bypassing US sanctions.
More than a dozen deals were signed between Iran and Venezuela with an objective of taking bilateral trade to USD 20 billion. The deals also include Iranians repairing the ailing oil refineries in Venezuela.
Though Venezuela has the world’s largest proven oil reserves, it has been unable to produce and export its oil in the last few years due to US sanctions that have severely affected the country’s economy.
Sharing experiences acquired while dealing with US sanctions
During his meeting with Venezuelan officials on Monday, Raisi announced that his country is ready to share its “valuable experience and achievement in the field of science and technology thanks to its resistance against the arrogant system and [ability to] overcome the sanctions,” Press Tv reported.
Raisi also said that Iran is trying to contribute to the development of a multipolar world with countries that oppose an international system based on “unilateral hegemonic power.”
Iran and Venezuela signed a 20-year cooperation agreement in June last year during Venezuelan President Nicolás Maduro’s visit to Iran and have booming bilateral trade in non-oil sectors as well.
Maduro claimed that both Iran and Venezuela have been trying to reduce their dependence on oil revenues and diversify their economies and mutual trade to better face international political upheavals and global pressures. He also emphasized that a new world order is being formed against imperialism and countries fighting against the excessive demands of arrogant powers are on the verge of victory, Press Tv reported.
Iran supplied oil to Venezuela when its refineries were unable to function due to US sanctions. It has also been involved in repair work on some of Venezuela’s refineries and has provided crucial tools and spare parts.
Similar to Venezuela, Cuba and Nicaragua have been struggling to deal with the crippling sanctions imposed on them by the US. Cuba, which has been under US sanctions for decades, has already developed a vibrant cooperation mechanism with Iran. The countries cooperated on a COVID-19 vaccine in 2021.
Raisi will visit Cuba during the last leg of his current tour and is expected to deepen the cooperation agreements signed in the past.
Raisi’s visit to Latin America is expected to strengthen the trend of alliances among the countries of the Global South that has received a boost since the China-mediated rapprochement between Saudi Arabia and Iran. Maduro was in Saudi Arabia earlier this month and according to some reports China is already planning to host an unprecedented summit between Iran and the GCC countries.
