TEHRAN -- Iran will sign a 20-year cooperation accord with Venezuela when President Nicolas Maduro visits Tehran “in the next few months”.
In a joint press conference with his Venezuelan counterpart Felix Plasencia in Tehran on Monday, Iran’s Foreign Minister Hussein Amir-Abdollahian announced the news and added that a joint economic cooperation commission, which will be formed in Iran’s capital before the end of the year which, will finalize the details of the agreement.
“All of this confirms that relations between the two countries are on the rise,” Amir-Abdollahian said, adding that some of the agreements made earlier on cooperation on a wide range of issues, including energy, are currently being implemented.
Plasencia’s visit to Iran came shortly after Reuters news agency reported on Saturday that an Iran-flagged supertanker, carrying two million barrels of heavy crude provided by the Venezuelan state-run oil firm, was about to set sail for Iran.
The vessel had reportedly arrived in Venezuela last month carrying 2.1 million barrels of Iranian condensate.
The exchange was part of a swap deal between the two countries that defies unilateral United States sanctions on both states.
During the joint press conference, the Iranian foreign minister expressed full support for the people of Venezuela and President Nicholas Maduro, and said U.S. policies on Venezuela are “unconstructive”.
“In bilateral cooperation, we are now on a path where Iranian goods are accessible in several Venezuelan cities,” Amir-Abdollahian said.
The Venezuelan foreign minister also met President Ebrahim Raisi, who told him Iran wished to expand its ties with Latin American countries.
“In this administration, we are determined to set aside problems created by enemies and continue the country’s path of progress,” Raisi was quoted as saying by his website.
“Latin America, especially Venezuela, is on the top of the Islamic Republic’s economic, diplomatic priorities, and we are determined to expand our ties with these countries,” Raeisi added.
The president emphasized the importance of having “a clear and long-term plan” in order to strengthen the bilateral ties to their maximum.
Raeisi expressed hope that “new steps” would be taken towards long-term cooperation between the two countries during the upcoming visit of President Maduro to Tehran.
Plasencia described Iran and Venezuela as friends, saying the two countries are united against hegemony and “those who want to harm our independence.”
He added that devising a long-term cooperation plan between

Tehran and Caracas would help defend multilateralism and fight U.S. intervention.
U.S. economic sanctions on Venezuela have plunged the oil-rich nation into poverty, with a majority of the population grappling with lack of access to basic needs, gasoline shortage and frequent power cuts. The dire conditions have prompted millions of Venezuelans seeking better living conditions to move to other countries.
News of the 20-year agreement comes as Iran and China clinched a 25-year cooperation accord earlier this year, with Iran also eyeing a long-term agreement with Russia.
Last month, Iran’s years-long bid to become a full member of the Shanghai Cooperation Organization was approved, bringing hope to Tehran that new opportunities, in defiance of U.S. sanctions, will now be possible.