Russia to Boost Economic, Commercial and Investment Co-Operation with Venezuela

  • Russian Foreign Minister Sergei Lavrov met Venezuelan President Nicolás Maduro in the Venezuelan capital, Caracas. After this meeting, Lavrov told media that the US administration’s attempt of removing democratically-elected Maduro from the office and putting opposition leader Juan Guaidó (self-declared interim president) is unacceptable to Russia. With the growing US pressure and economic blockade on Venezuela, Russia pledged to boost cooperation with Venezuela militarily, commercially, and economically. The announcement comes just hours after the US imposed sanctions on Conviasa (Venezuela's state-run airline) for allegedly shuttling “corrupt officials around the world”. While pledging their support for Venezuelan leadership, Russian Foreign Minister Sergei Lavrov said: “We have firmly expressed our support to Venezuela's sovereignty, our solidarity with the Venezuelan leadership and nation in their battle against illegal pressure which is being imposed by the US and its allies.” Russia has earmarked “energy, natural resources, and industry” as the most promising sectors. The finalization of the practicalities of the cooperation will be done in May 2020 when the Venezuelan President Nicolás Maduro visits Moscow.