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Venezuela has not been selling gasoline to Iran for some time now. They have reduced their consumption by 35 percent: Venezuelan oil Minister Rafael Ramirez.

October 29, 2010 (Hamsayeh.Net) - Opec member Venezuela has ceased strategic gasoline exports to Iran after receiving assurances from Iranian authorities that the Middle Eastern country has been able to reach self-sufficiency in production of gasoline for domestic use.

The Latin American oil giant had earlier initiated an emergency program to supply Iran with sufficient amounts of gasoline following an anti-Iran UNSC resolution that tried in vain to place a crippling gasoline embargo on Tehran. 

But during a visit by the Venezuelan President to Iran, last year, President Hugo Chavez brushed aside imposition of gasoline embargo on Iran. He instead offered to supply up to 100,000 barrels a day in order to alleviate any shortages. Although not too long after Hugo Chavez’s trip, the Middle Eastern country had managed to boost domestic gasoline production by more than 30 percent, enough to even export gasoline to neighboring countries of Armenia, Iraq and Afghanistan.  

According to Venezuelan oil Minister Rafael Ramirez speaking in Caracas, ‘Venezuela has not been selling gasoline to Iran for some time now. They have reduced their consumption by 35 percent.’ 

Iran’s self-sufficiency in gasoline production has dealt a major blow to Washington and its allies’ much talked about trump card against Iran. Initially, the US in cooperation with its ever-dwindling number of allies hailed the Iran gasoline embargo strategy as the strongest economic tool available to pressure Iran accept a halt to its nuclear program, unconditionally.

Iran has managed to boost domestic gasoline production by more than 30 percent, enough to even export gasoline to neighboring countries of Armenia, Iraq and Afghanistan.  

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