Venezuela, Iran sign agreement for improvement of Venezuelan oil quality

The U.S. Treasury Department responded that the deal constitutes a violation of the sanctions, and punitive measures are expected 

Venezuela, Iran sign agreement for improvement of Venezuelan oil quality

IRNA

In an oil deal between rogue states, Iran and Venezuela signed an agreement for the supply of special materials produced in Iran that are intended to improve the quality of Venezuela's crude, considered "heavy" like tar. The condensate materials from Iran are supposed to improve the quality of Venezuela's oil.     

Venezuela is making efforts to increase the scope of its oil exports, which are under American sanctions, like Iranian oil exports. The agreement is said to be planned to last for six months but could be extended, according to Reuters.  

The U.S. Treasury Department responded that the deal constitutes a violation of the sanctions, and punitive measures are expected. The sanctions bar U.S. citizens from doing business with the oil sectors of the two countries, Iran and Venezuela, and the penalties include cutoff of access to the American financial system as well as the freezing of assets in the U.S. 

In New York, Iranian Foreign Minister Amirabdollahian said that Tehran will return to the talks in Vienna on the nuclear agreement when the government's review of the "nuclear file" will be finished. In his speech at the UN General Assembly last week, the foreign minister said that his country will return to the talks "soon". During a TV interview this weekend, the Iranian minister said "The difference between Iranian and Western 'soon' is a lot. To us, 'soon' means really in the first opportune time – when our reviews (of the nuclear file) have been completed. What is important is our determination to return to the talks, but those that are serious and guarantee the Iranian nation’s rights and interests."

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