Pak Sahafat news agency quoted Reuters quoted five informed sources as saying that a major oil deal had been struck between Iran and Venezuela despite US sanctions, and that the first shipment was scheduled to be shipped this week.
According to the report, the deal is a swap deal between Venezuelan heavy oil and Iranian gas condensate that Caracas could use to improve the quality of crude oil such as bitumen.
According to these sources, the South American country is trying to increase its oil exports despite US sanctions, and this agreement between the Venezuelan Oil Company (PDVSA) and the National Iranian Oil Company can help them cooperate.
One of these informed sources said that the swap agreement is supposed to be six months in the first phase, but it can be extended.
An informed source in Washington said: The swap agreement between Venezuela and Iran has been seen by US government officials in recent months as a possible breach of sanctions, and they want to see how far it will go in practice.
South American country is trying to increase its oil exports despite US sanctions, and this agreement between the Venezuelan Oil Company (PDVSA) and the National Iranian Oil Company can help them cooperate.