What Venezuela's renewed ties with Israel could mean for Iran - analysis
Venezuela's decision to renew consular relations with Israel comes after two decades in which Caracas became Iran's principal strategic partner in Latin America.
In January 2023, Venezuela announced the establishment of a consular channel with Israel for the first time in 17 years, following a diplomatic decision made between the two nations. While relations with Israel have been strained in recent years due to conflicts, Venezuela's decision to establish this consular link may signal a shift in its foreign policy.
Iran, Venezuela's long-standing ally, may be concerned about the impact of this new relationship on its own influence within Venezuela. The two countries have a history of close ties, including hundreds of agreements covering energy, banking, and other sectors, with Iranian investments in Venezuela estimated to reach $15 billion to $20 billion by 2012.
However, under President Maduro, the relationship has become more limited due to US sanctions that restricted the countries' access to conventional financial, energy, and industrial markets. The renewed ties with Israel come at a time when Iran may be worrying about the potential impact on its influence in Venezuela.
Written by urgent.news from Jerusalem Post's reporting — not their text. Machine-written — it may contain errors, so check the original before relying on it.
