This archive report was first published on 24 May 2020.
On Saturday, the first of five tankers carrying Iranian fuel and oil products entered Venezuelan waters, marking a significant development in the country's ongoing fuel crisis.
According to Venezuelan oil minister Tareck El Aissami, the ships of the Islamic Republic of Iran have entered Venezuela's exclusive economic zone. The fleet is carrying approximately 1.5 million barrels of gasoline, which is expected to alleviate the chronic shortage of gasoline in the country.
The arrival of the Iranian fuel shipment comes amid heightened tensions between Tehran and Washington, which has imposed sanctions on Venezuelan oil exports and Iran. Venezuela's navy and air force have been deployed to escort the tankers, following a warning from Tehran that there would be consequences if the US stopped the ships from reaching their destination.
As of 9:00 pm local time on Saturday, the first tanker, Fortune, was near the coast of Sucre state in northern Venezuela, having passed off Trinidad and Tobago. The tanker is expected to sail to the El Palito refinery in Puerto Cabello, northern Carabobo state, according to state-run television.
Relations between Caracas and Tehran have become close since former Venezuelan president Hugo Chavez took power in 1999. Iran has repeatedly expressed its support for Nicolas Maduro, his successor, who is also backed by Russia, China, Turkey, and Cuba. The United States, however, has called Maduro a 'dictator' and has imposed a range of economic sanctions against his administration, including an oil embargo that came into force in April 2019.
