Iran’s top defense official moved to bolster energy and business ties with Venezuela on a trip to Caracas on Thursday, as the two countries navigate the effects of US sanctions.

Defense Minister Brig. Gen. Aziz Nasirzadeh traveled to Venezuela in an effort to boost cooperation across the science, agriculture, energy and industry sectors. He held meetings with the following Venezuelan ministers, the official Islamic Republic Press Agency reported.

• Industries Minister Alex Saab, who was released from US custody in a prisoner swap last year, to discuss joint industrial projects, trade and tariffs, and expanding Iranian business activity in Venezuela
• Finance Minister Anabel Herrera to discuss banking and financial cooperation
• Energy Minister Jorge Marquez to discuss modernizing Venezuela’s power plants
• Science and Technology Minister Gabriel Jimenez to discuss research collaboration, technological transfers and exchange of expertise on biotechnology, nanotechnology and geosciences
• Mines Minister Hector Silva to discuss investment in Venezuela’s mining sector
• Agriculture Minister Mendez Fernandez to discuss agricultural trade and cooperation
• Tourism Minister Leticia Gomez to discuss cultural exchanges and easing travel processes between the two countries, including direct flights between Tehran and Caracas

Nasirzadeh arrived in Venezuela on Tuesday for an Iran-Venezuela Joint Economic Commission meeting, per the agency.

Why it matters: Iran and Venezuela have a longstanding and friendly relationship, though relations cooled last year over their oil trade. Iran began sending fuel to Venezuela in 2020. Though Venezuela has the largest proven oil reserves in the world, its refining capability has fallen into disarray, making it reliant on the Iranian deliveries for power. In 2021, Venezuela reached a deal to send its crude oil to Iran in exchange for Iranian condensate.