While fear of US sanctions still appears to be a barrier for multinational oil companies doing business with Iran and Venezuela, both countries are said to find ways to help each other resolve oil-related problems related to the sanctions imposed by the United States. States.
Towards the end of the Trump administration, Tehran emerged as a proverbial lifesaver for Caracas, distributing oil to the South American republic in the teeth of a risk that their ships might find conflict in waters that Washington considers part of its proverbial backyard. ‘.
The passage of time seems to have realized further consolidation of the relationship as nowadays, Venezuela is said to transport jet fuel to Iran in the same vessels where Iran distributes gasoline and spare parts for refineries in Venezuela. A recent Reuters report notes that Caracas, which apparently has too much aviation fuel, is only too happy to send some Iranian way in exchange for gasoline which, by all reports, has now become ‘good gold’ the country that once boasted offering its citizens the cheapest gasoline anywhere in the world. Venezuela has been suffering from acute gasoline shortages in recent years as a result of US sanctions, which have cut imports off.