Iranian President Ebrahim Raisi praised Tehran-Caracas strategic connections and expressed confidence that the two nations will deepen their collaboration in the future.

Since 2020, the two countries have worked on expanding cooperation, especially in energy projects and oil trade amid the draconian US sanctions that they have been repeatedly subject to. This has helped both countries ease the effects of the sanctions on their economies.

In May, the National Iranian Oil Engineering and Construction Company signed a contract worth 110 million euros to repair Venezuela's smaller 146,000 barrel-per-day refinery.

In a joint press conference with Venezuelan President Nicolas Madura on Saturday, the Iranian President stated that the two countries "would keep up their cooperation by signing a 20-year cooperation document."

Raisi added that "Iran has always sought to have ties with independent countries," hailing "Venezuela’s resistance against imperialism and enemies," which he described as "exemplary".

As the White House Press Secretary admitted, the US' maximum pressure approach has failed, and this is a triumph for the Iranian people and a defeat for the adversary, according to the Iranian President.

Read more: Read more: Tanker carrying Iranian oil arrives in Venezuelan waters: Reports

He added that "the Venezuelan nation, which has had difficult years under US sanctions, has been determined to stand against the enemies."

President Raisi stated that Venezuela has left hyperinflation behind and restored economic development, proving that resistance succeeded, which forced the adversary to leave.

"Iran and Venezuela have good cooperation on energy, thermal plants, refinery maintenance, technical and engineering service, economy, defense, and military which is indicative of the high capacity of their relations," he added.

Earlier today, Venezuelan President Nicolas Maduro announced, during his visit to Tehran to meet his Iranian counterpart Ebrahim Raisi, the signing of a 20-year agreement to expand joint cooperation in various sectors, such as oil, banking, and economy.

He stated that Caracas and Tehran both have revolutionary backgrounds and have always helped one another in difficult times. 

Iran and Venezuela have both managed to endure US economic pressures and have worked closely together to mitigate the impact of unlawful sanctions, particularly those targeting their oil industries.