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An expert on energy has said that Iran can participate in Venezuela's oil exploration and extraction projects to the best of its ability and this is in the interest of both countries and it is a win-win game.

Ali Asghar Zargar said in remarks to ILNA that “Both Iran and Venezuela are under sanctions for selling and attracting foreign investments, while both are members of OPEC and have rich oil resources, so they have similarities in terms of oil policies.”

“Now with the coronavirus outbreak subsiding, demands for oil will increase,” he said.

“In addition, the result of the Ukraine crisis is not clear and the sanctions imposed on Russia have led to Iran and Venezuela getting closer to each other,” he added.

He said that “In a situation where the demand for oil has increased, the United States has somehow turned a blind eye to the oil activities of Iran and Venezuela, especially in the field of exports, so that these countries can sell their oil despite sanctions and meet the global demand to some extent.”

 “The result is to avoid high oil prices,” he added.

He said that in the current situation of the Iranian oil market, it can participate in Venezuela's oil exploration and extraction projects to the best of its ability, adding that “This is in the interest of both countries and it is a win-win game.”

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