It would take an Objectivist, probably, to recognize that what unites Venezuela's Chavez and Iran's Imajihadi (or whatever his name is) is collectivism. For Iran, the collectivism is Islamic totalitarianism. For Venezuela, it's secular socialism. But fundamentally, they're essentially the same ideologies: the subservience of the individual to the group.
They just happen to worship different gods, Allah and "society." Otherwise, there's absolutely nothing surprising or odd about their alliance. Oh, and as this story suggests, anti-Americanism might also play a small part.