Boots & Sabers

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0931, 10 Jan 15

Iran and Venezuela Reach Agreement

This isn’t a good thing.

Iran and Venezuela pledged to reach agreements during Maduro’s trip that would “expand trade and investment, export of technical and engineering services and collaboration in pharmaceuticals.”

“Venezuela can be a suitable base for the export of Iran’s goods and services to Latin American countries,” said Rouhani, who is seeking to reduce Iran’s reliance on oil sales by boosting non-oil exports.

Venezuela has the world’s largest proven oil reserves but its economy — 96 percent of the government’s foreign currency comes from crude — has been gutted by inflation and basic goods shortages.

In late December, recession-hit Venezuela reported that inflation for the 12 months to November topped 63 percent — one of the highest rates in the world.

Maduro travelled to China this week in search of investment and said he secured $20 billion.

“Iran can cooperate to remove Venezuela’s needs in housing, road construction, food products and medicine,” Rouhani added Saturday.

Two oil-rich totalitarian regimes in separate hemispheres – one of which we know actively funds terrorist organizations around the globe – building ties is not good for world stability. Perhaps the best thing for it is for oil prices to remain low enough to bankrupt them both.


0931, 10 January 2015


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