Name? Nicolás Maduro
Westphalian identity? Venezuelan
Age? 59
Why is he in the news? Venezuelan President Nicolás Maduro has found new fame this year with a more stable economy, oil, and a now-signed 20-year partnership with Iran. In a world tour, Maduro made a pit stop of two days in Iran where he signed the long awaited 20-year partnership with economic and energy cooperations between the two countries. Both countries are popular international pariahs and well, they joined in hopes of helping each other sidestep US sanctions.
Why do we care? Because we may have seen this coming. In the wake of the war in Ukraine, unlikely actors are gaining leverage. This new agreement shows a higher willingness to cooperate between anti-Western non-traditional allies. In the face of stalled negotiations for a new nuclear deal in the Middle East, Maduro is aiding in building a principled (and perhaps successful) resistance against the West and particularly the US, which in turn could empower Iran.
Why should you care? The country with the biggest oil reserves in the world may have found its place of power after the Ukrainian invasion. We should not make too much of a 20-year cooperation strategy for economic cooperation; but Maduro has achieved this from Iran, plus eased sanctions from the West. You should care 2/10.
Who else cares? Iranian President Ebrahim Raisi. Iranian Presidents are usually tasked with foreign policy matters, presenting Iranian interests abroad. This agreement with Maduro includes collaborations in oil, petrochemicals, agriculture, tourism and culture — all very useful for two crippled economies. Raisi’s ultimate goal is to build a resistance against US sanctions and assuage their effects.
Any further comments? The US just allowed European oil companies to ship Venezuelan oil to Europe for the first time since 2019. In lieu of payment, Venezuela will receive debt relief. However, Venezuelan state refineries are in much need of an upgrade, which is where Iran’s technological exchange can help.
