3rd Shipment of Iranian Crude Oil Arrives in Venezuela

According to Reuters, 1 million barrels of crude oil from Iran has made its way to Venezuelan waters this past weekend. It is the 3rd such shipment to make it to Venezuela's state-owned oil company PDVSA. The name of the ship is the Sonia I, a Suezmax tanker. The 2 previous shipments were made by the ships Silvia I and Dino I, which arrived with Iranian crude oil in the previous month. These ships had reloaded with heavy oil and fuel from Venezuela to go back to Iran.

In defiant acts of U.S. sanctions on both nations, the 2 countries have been cooperating since 2020 regarding oil and refinery repairs.

This past weekend, leaders from the 2 nations signed a 20-year cooperative plan in Tehran in an effort to resist pressure and further sanctions from the U.S. Within the 20-year plan, topics such as Culture, Agriculture, Tourism, Defense, refining, and petrochemicals were outlined.

Source # 1 Reuters

Source #2 Nasdaq

Source #3 PBS