Iranian Foreign Ministry Spokesman Nasser Kan’ani denounced the illegal US action to confiscate and auction the shares of Citgo Petroleum, a Venezuelan property, as a violation of international law. The US seized assets after its political plans against Venezuela failed due to the country’s resistance to oppressive sanctions.
Kan’ani expressed Iran’s unwavering support for Venezuela in defending their legal rights. A US federal court’s decision to auction Citgo’s shares was to settle claims totaling $21.3 billion from expropriations and debt defaults affecting US companies in Venezuela.
Venezuela’s PDVSA, Citgo’s parent company, criticized the move, stating that their assets were being sold without consent. Despite US sanctions, Venezuela’s oil production has been rising with Iran’s support.
Iran and Venezuela’s collaboration aims to restore Venezuela’s oil production, currently at 950,000 barrels per day, despite US attempts to hinder it.
MP/PressTV