Iran's oil minister expressed his satisfaction with Tehran's recent signing of agreements with three Latin American countries, Venezuela, Cuba and Nicaragua. 

Afghan voice agency (AVA) - Monitoring: Speaking to reporters on the sidelines of a Cabinet session on Wednesday, Javad Owji said the administration of President Ebrahim Raisi has started cooperating with the three Latin American states in the export of crude oil and gas condensates since its inauguration some two years ago.

He added that Iran has exported more than 3.8 million oil and gas products to the Venezuelan refineries.

“This country (Venezuela) has the largest oil reserves in the world and has a refinery capacity of more than one million barrels” but most of its capacities have not been used due to the sanctions, he said.

Owji noted that Iranian specialists in the oil industry have succeeded in restoring some parts of the capacity, Press TV reported.

He further noted that Iran and Venezuela have no financial payment, and the fuel trade is done through barter deals, adding, “We had a win-win game with Venezuela.”

The Iranian oil minister also commended the good measures taken in Cuba to barter oil with drugs and said Tehran began to restore Cuba’s refinery capacity.