Venezuela and Russia have signed agreements on energy, trade, financial, transport, military, agricultural, and pharmaceutical cooperation, among other areas in order to ramp up the transportation system, oil industry security and access to COVID-19 vaccines.

The trade deals, which form part of a $17 billion 10-year agenda, were the result of five technical meetings held in Caracas as part of the High-Level Intergovernmental Commission (CIAN) framework.

Russian Deputy Prime Minister Yuri Borisov, who led the Kremlin commission, met with President Nicolás Maduro, Vice President Delcy Rodríguez, and Oil Minister Tareck El Aissami.

Borisov said the agreements centered around “joint investment projects for development of Venezuela’s hydrocarbon reserves,” vowing that trade between the two nations will continue to grow.

The Russian envoy highlighted that bilateral relations “have shown capacity to counteract sanctions” imposed against the Latin American country by the US regime, the European Union (EU) and their allies in recent years.

We rigorously condemn the practice of unilateral sanctions against Venezuela that greatly affect the country’s social situation and limits the possibility of purchasing food and medicine.

Sanctions against Venezuela began in 2015 but were increased from 2017 when the US targeted state-owned PdVSA with financial sanctions, an oil embargo and a host of other measures.

The USA and dubious allies have also frozen around $7 billion in Venezuelan assets abroad. In early 2020, secondary sanctions forced Russian energy giant Rosneft to shut down its dealings with PdVSA, with its assets taken over by a Kremlin-owned company.

Venezuelan authorities denounced that the US blockade has hampered the acquisition of vaccines and medical supplies during the COVID-19 pandemic.

Recently, top United Nations officials have urged countries to lift all coercive measures after attesting they violate human rights and international law.

US representatives have likewise called on the Biden administration to revise its sanctions policy and consequences, with a 2019 report by the Center for Economic and Policy Research (CEPR) finding that the measures were responsible for the deaths of 40,000 Venezuelans.

Venezuelan Oil Minister El Aissami stated that bilateral relations with Russia “have allowed us to stimulate 20 important areas of cooperation, among which the financial, energy, technical-military, pharmaceutical, and transportation sectors stand out.

Furthermore, Russian state corporation Rostec participated in the meetings and said it will apply its technology to ensure Venezuela’s oil industry’s security.

The company added, in a statement published by Russian agency TASS, that the cooperation will include protection of power generation facilities against cyber attacks, equipment supplies and fire-fighting appliances, “as well as investment projects in Venezuela.

Venezuela Analysis / ABC Flash Point News 2021.

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Arthur Miller
Arthur Miller
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16-04-21 23:25

Getting back on track.