Caracas-Tehran-Sana
Iran and Venezuela today concluded an oil export agreement in defiance of the US embargo imposed on the two countries.
Fars news agency quoted five informed sources as saying that "Venezuela has agreed to a major contract to exchange its heavy oil for Iranian condensate that it can use to improve the quality of its tar-like crude oil, with the first shipments to be delivered this week."
The sources pointed out that Venezuela is seeking to boost its oil exports in the face of US sanctions, noting that the swap agreement will continue for six months in its first phase, subject to extension.
