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Venezuela to Maintain Ties with Iran

Service : Politic
TEHRAN, May 26 (ICANA) – Venezuela's energy minister says Caracas will continue its relations with Iran despite sanctions imposed against its state-owned oil company by the US.
Thursday, May 26, 2011 12:49:09 PM
Venezuela to Maintain Ties with Iran

On Tuesday, the US imposed sanctions against Venezuela's giant oil company PDVSA as part of its campaign to tighten sanctions on Iran over its nuclear program.

Under the sanctions, PDVSA is denied US government contracts and banned from Washington's export financing.

Venezuela's Energy Minister Rafael Ramirez, who is also head of PDVSA, said Venezuela will continue to maintain relations with Iran and any other country it wants.

"This is a right we are not going to renounce," Reuters quoted Ramirez as saying on Wednesday.

The UN Security Council adopted a fourth round of sanctions against Tehran in 2010 under intense pressure from the US, which claims Iran's nuclear program may have potential military aspects.

Shortly after the UN sanctions, the US imposed fresh unilateral sanctions against Iran's financial and energy sectors, encouraging other countries to abandon investment in the Iranian market.

The US then pressured Japan, Canada, and Australia to impose similar unilateral sanctions on the Islamic Republic, targeting investment in energy-related industries.

Iran says that as a member of the International Atomic Energy Agency and a signatory to the Nuclear Non-Proliferation Treaty, it has a right to use the peaceful applications of nuclear energy for electricity generation

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