Iran and Venezuela share many similarities. Recent political revolutions have brought in anti-US governments. They are Opec’s two most powerful price hawks, and they are increasing their links through industry and a shared bank.
Their similarities and links, however, are in opposition to one big difference in their economic policies: Iran is privatizing assets as fast as Venezuela is nationalizing them.
The latest nationalizations in Venezuela include one of the country’s biggest banks, which was owned by Santander. Cemex, a formerly Mexican-owned cement company is also now controlled by the state. In Iran, even parts...
