Русский
Vladimir Putin has met with Nicolas Maduro, the President of Venezuela at the BRICS Summit in Kazan.
This is what they had to say:
Putin:
“I am delighted to see you in Russia again. I remember well our previous meeting in Moscow in 2019. I am glad that you were able to come to Kazan and personally participate in the BRICS Summit.
I know that our Venezuelan friends hold values and principles that are similar or overlapping with those BRICS is guided by: respect for each other’s legitimate interests and sovereignty, the sovereign choice of nations, mutually beneficial and honest equitable cooperation, and so on. We support your decision to participate in BRICS activities.
Venezuela is one of Russia’s longstanding and reliable partners both in Latin America and in the world. The strategic partnership between our countries is still evolving, and our mutually beneficial cooperation is progressing in all areas. Bilateral trade is growing too, we have numerous projects in the works in energy, pharmaceutical industry, transportation, civilian space activities, and high tech.
It is good to have this kind of package of projects for cooperation, but it will be even better if they make progress. Some of them are underway, which is good news.
It is also important to establish ties in the financial and banking spheres based on settlements in national currencies.
Direct flights have been established between our countries. This facilitates the growth of tourism and encourages cultural, humanitarian, research and educational exchanges. Russia and Venezuela coordinate their steps at the UN and other international platforms.
Together, Russia and Venezuela are striving to create a new, more just world order based on the rule of law and zero tolerance for neo-colonialism, interference in the internal affairs of other states, political and financial pressure, and unilateral coercive measures.
We appreciate that Venezuela shares our stance on the current international situation and consistently supports us in the face of the hybrid war and the Russophobia campaign being waged against our country.
We know how you are defending the interests of your people, Venezuela’s interests in your country, consistently and uncompromisingly. We are definitely on your side and strongly support your efforts in this area.”
Maduro:
“Thank you very much for the invitation to attend this historic BRICS Summit.
Venezuela follows the path of BRICS, and we are committed to achieving balance in the world, a commitment that traces back to the times of Bolivar. We uphold the legacy of Comandante Hugo Chavez, who endeavoured to create a multipolar, multi-centred world. We are implementing the BRICS principles because they align with our conviction: the Global South can only exist if it possesses the right to a future, the right to freedom, and the right to justice.
It is only in the 21st century – the century of change, the century of the birth of new geopolitics – that such emerging powers as China, Russia, and India can develop relations based on cooperation and respect with the peoples of the Global South and the Global East. We are all brother nations. I congratulate you on the success of this historic summit; it serves as an important message of hope for the entire world.
Russia and Venezuela have established ties that cannot be broken – political ties, moral ties, relationships that have withstood the test of time over all these years. We have traversed the desert.
Yesterday, upon landing here in Kazan, I remarked: we have arrived, we are standing on our feet, we are intact, and we have achieved victory – the people of Venezuela have achieved victories, and we are monitoring the struggle that Russia is waging against Nazism and fascism.
We also admire the victories you have secured for the Russian people on all fronts of the global struggle – be it economic, scientific, cultural, military, political, or diplomatic. Consequently, we take pride in the fact that you are our friends, that Russia is a friend of Venezuela, and we are prepared to continue advancing together.
There will be a meeting of the Russian-Venezuelan Intergovernmental Commission on November 7. We have an extensive agenda and are making progress in numerous areas. Venezuela has managed to restore its economy through its own efforts. We have very positive economic growth indicators and have successfully defeated inflation. We have investments, and we are prepared to continue welcoming Russian investments in our country, with the aim of further developing our trade, strengthening relations across various sectors of our economy, and enhancing our political relations with the great Russia.
I congratulate you once again on the success. Our entire delegation stands ready to continue making progress in all areas of cooperation.”
Analysis & Implications
Like Russia (and Iran), Venezuela has been heavily sanctioned by the United States. However, Venezuela has the world’s largest oil reserves, and ninth largest gas reserves. (It is worth noting that the United States routinely sanctions or engages in conflicts with countries possessing significant energy reserves). While Russia-Venezuela bilateral trade is relatively small at about US$3.6 billion in the non-oil sector, this is increasing. Total bilateral trade is worth about US$7.5 billion, with Russia also investing in Venezuela’s energy sector. Russia also exports grain to Venezuela, while in return, Venezuela exports agricultural products, including coffee.
In 2021, the two governments signed a 10-year plan to set up long term cooperation in several areas, including healthcare, energy, communications and agriculture.
The main issue with Venezuela is that like other countries such as Iran, and Russia itself, it is a major energy play. Pressure from the United States over democratic issues that Maduro stated amounted to interference in Venezuelan sovereignty, resulted in threats to cancel all Venezuelan oil contracts with US companies and award them to BRICS nations.
That sort of rhetoric will sit well with Putin, and we can expect Venezuela to become an official member of BRICS very soon.
The BRICS countries currently control about 43% of global oil reserves. Adding countries such as Venezuela to that mix will significantly increase that.
Further Reading
