Iran asks Venezuela to repay debts exceeding USD 290 million

http://www.eluniversal.com/economia/120111/iran-asks-venezuela-to-repay-debts-exceeding-usd-290-million

Iranian President Mahmoud Ahmadinejad may have visited Latin America to lead people to believe that he has allies in the region, but he also seized the opportunity of his visit to Venezuela to demand the payment of a USD 298 million debt that the Venezuelan government has contracted with state-run Iranian companies.

Venezuela has debts with Iranian firms in the areas of automotive industry, construction, and housing, which are three of the main pillars of the relationship between Caracas and Tehran.

"Ahmadinejad's delegation wanted to talk about the debts that the Venezuelan government has contracted with five Iranian corporations operating in Venezuela, whose activities have been hampered by a series of obstacles," sources close to those businesses told El Universal.

First, Venezuela owes USD 98 million to Iranian state-run company Ehdasse Sanat. Repayment of this debt has already been approved by the National Assembly. The representatives of the company are seeking repayment of the debt to meet their commitments, including bank loans.