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Iran- Venezuela trade and US factor

According to US media, Iran and Venezuela have struck an oil deal amid US sanctions on the countries under which the Venezuela states own oil giant, Petróleos de Venezuela (PDVSA), would receive condensate to dilute its oil and National Iranian Oil Company (NIOC) will get shipments of oil to sell to Asia. As per details, the deal has been set for six months which could be extended according to the requirements of both parties. In fact, the United States rivals have tightened their knots in a business deal of utilizing each other’s resources to tackle their common problem because most of the world countries are not ready to deal with them due to imposition of sanctions against Iran and Venezuela by the US over the last several years. However, their wishful mutual marriage has not gone well with the United States government and its media. Currently, US media is suggesting the government imposes secondary sanctions against its rivals. The US administration can impose sanctions against the non-US persons including cutting access to the US financial system, imposition of fine or freezing of assets in the United States.

According to analysts, US officials perceive that the agreement will give more financial resources to anti-America Venezuelan President Nicolás Maduro to contest next elections and thus the staunch America’s rival may retain the office for another term. Presently, both Iran and Venezuela are facing severe financial constraints due to imposition of sanctions by the United States and its allies. The years-long sanctions have badly affected their economies and created unrest and disharmony among the masses.

According to reports, the US Treasury has not responded to recent developments which aim at denting its so-called punitive measures against America’s enemies, however, the US has many options including imposition of secondary sanctions and disruption of rival’s trade by using its Naval power already deployed in the Caribbean waters. US self-imposed sanctions do not provide legal ground for using power to pause this bilateral trade. Both Iran and Venezuela are taking full advantage of America’s state of helplessness at this point, however the time will illustrate America’s plan during the coming days.

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The Frontier Post

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