Iran promises to help Nicaragua “neutralize” the effects of US sanctions

Iran has promised Nicaragua to supply it with fuel and participate in oil exploration operations, and has considered investing in a refinery to “neutralize the effects of US and European invasions and sanctions” at the conclusion of a visit by an Iranian government delegation.

“We will do everything possible to ensure delivery of fuel in Nicaragua, “said Iranian oil minister Javad Oji.

Nicaragua imports fuel from its ally, Venezuela, which is experiencing an economic and social crisis. With the Russian invasion of Ukraine, fuel prices increased, which exacerbated the situation in this country in light of US sanctions making some of its transactions more difficult, according to Agence France-Presse.

Nicaraguan President Daniel Ortega said that during the visit of the Iranian delegation “substantial oil issues” were discussed, with the proposal of “petrochemical and oil projects”, as well as the improvement and modernization of refineries and the development of the production in oil and gas fields.

The two governments signed an agreement for the development of oil exchanges and a contract for the supply of petroleum products, the value of which was not specified.

The Iranian minister explained that the projects provide for the possibility of investing in a refinery belonging to the “Bolivar’s Supreme Dream” industrial complex, launched by the Ortega government in 2007 and foresees a Venezuelan investment, but has stopped in middle of the road due to economic difficulties in which pays Caracas.

Ogi expressed the hope of continuing this project through “a joint investment between Iran, Nicaragua and Venezuela”.

The Nicaraguan government explained that the complex includes a fuel storage and distribution facility, which was completed with an investment of $ 432 million. As for the second phase of the project, it involves the construction of a refinery which requires an investment of over 3.6 billion dollars.

Western sanctions target dozens of officials and officials close to the Nicaraguan president, against the backdrop of allegations of corruption and human rights abuses.

Washington and Brussels are calling for the release of over 40 opponents, including 7 former presidential candidates who were suspended before the November 2021 elections. in which Ortega won for the fourth consecutive term.

“Together we can neutralize the effects of violations and sanctions,” said Ogi, arrived in Nicaragua from Venezuela.

Relations between Venezuela and Iran strengthened after Washington imposed sanctions on oil exports from the two countries and on a number of government officials within them.

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