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Iranian President Set for Venezuela Visit

OIL

Iran's President Ebrahim Raisi will lead a government delegation on a maiden three-nation tour of Latin America on Sunday – he will be accompanied by his oil minister.

  • The three-nation Latin American tour, the first since Raisi came to power in 2021, seeks expansion of Iran's "economic, political and scientific cooperation" according to Iran’s state media.
  • Raisi will visit Venezuela, Cuba and Nicaragua.
  • Iran and Venezuela are major oil producers and both are sanctioned by the US.
  • Iran has managed to export crude to Venezuela, circumventing sanctions, to help the Latin American country rebuild its energy infrastructure.

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