Oil producers Iran and Venezuela sign 20-year cooperation plan


Iranian Foreign Minister Hossein Amirabdollahian, right, and his Venezuelan Foreign Minister Jorge Arreaza, left, sign their countries bilateral cooperation agreement as Iranian President Ebrahim Raisi, second right, and his Venezuelan President Nicolas Maduro look on, at the Saadabad Palace in Tehran, Iran, Saturday, June 11, 2022.

Iran and Venezuela signed a 20-year cooperation plan in Tehran on Saturday as the two countries, among the world's top oil producers, grapple with U.S. sanctions that are crippling their exports.

The signing ceremony, carried by Iranian state TV, was overseen by Iranian President Ebrahim Raisi and his Venezuelan counterpart Nicolas Maduro and took place at the Saadabad Palace in north Tehran.

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