BUSINESS INFORMATION - Venezuela said Monday it has reached an agreement to export 20,000 barrels per day of gasoline to Iran, where imports are a major part of their needs, the Iranian government-owned media reported on Monday.
Iranian news agency, Irna reported, citing Venezuelan President Hugo Chavez during a visit to Iran, was quoted as saying by Reuters.
Tehran, faced with the West about its nuclear program, may face sanctions on imports of gas if a diplomatic solution was not found.
Chavez said the export of gas will help to finance imports from Venezuela and Iran form of engine technology, IRNA wrote.
Iran's state-owned television quoted Chavez as saying that gas exports will begin in October.
United States President Barack Obama has given time to Iran until the end of September to consider an international offer of trade talks if it aside uranium enrichment.
Ayotollah Iranian religious leader Ali Khamenei at the beginning of the meeting with Mr Chavez called for the two countries to encourage cooperation.
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