Venezuela's PDVSA Sends Gasoline To Iran

From Forexyard

Venezuelan state oil company PDVSA is sending two cargoes of gasoline to Iran, trade sources said on Monday, in a move that could help supply the Islamic Republic despite U.S.-led international sanctions. The cargoes are for February delivery, three trade sources told Reuters. PDVSA was not immediately available for comment.

“It is no surprise at all,” one trade source said. “Venezuela, China — countries like this, they don’t care much about the sanctions,” he said.

As a result of the sanctions, which came into effect in mid-2010, major oil companies have halted business with Iran, which is dependent on gasoline imports due to a lack of refining capacity.

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