Venezuelan President Hugo Chavez said that his country is ready to provide Iran with gasoline, the local satellite Press TV reported on Monday.

In a joint press conference with Iran's President Mahmoud Ahmadinejad late Sunday, Chavez said that his country is ready to provide Tehran with 20,000 barrels of gasoline per day, the report said.

"Based on the agreement, Venezuela will import machinery and technology (from Iran) in exchange for export of gasoline ... ( which is) a strategic move," he was quoted as saying.

The agreement is reached amid the threats that Iran is faced by the Western countries' gas sanctions over its defiance to comply with the UN resolutions to halt its nuclear activities.

At the end of Chavez's two-day official visit to Tehran, Iran and Venezuela also signed three cooperation agreements in the fields of medicine, oil and trade.

Chavez ended his seventh official visit to Iran on Sunday.

(Xinhua News Agency September 8, 2009)