How the Russia-Venezuela Strategic Partnership Can Help Weaken US Grip on Latin America
© AP Photo / Maxim Shemetov
Subscribe
Amid the latest US threats and provocations against Venezuela, the country's parliament has greenlit a new comprehensive cooperation agreement with Russia. The pact promises to strengthen what are already rock-solid ties across a broad array of areas. Here's what these include.
Energy Links
Joint oil and gas exploration efforts, heavy crude processing into export-grade oil via the Petromonagas Rosneft-PDVSA joint venture.
OPEC+ and Gas Exporting Countries Forum coordination to resist US sanctions pressure.
Alternative system of oil shipping insurance (featured in the newly agreed pact)
Joint efforts to modernize Venezuela’s power grid, which has been made vulnerable to foreign sabotage attacks.
Space & Tech
Russia opened a new GLONASS satellite navigation system ground station in Venezuela, and the two countries have pledged broad cooperation in space exploration.
Russia has also been an exporter of machine tools and other equipment crucial for key Venezuelan infrastructure amid US efforts to smother Venezuela into submission economically.
Logistics & Infrastructure
A new strategic maritime transport cooperation agreement stepped into force in late 2024 to promote shipping and logistics.
New joint projects in rail and telecommunications infrastructure are in the works.
19 September, 04:28 GMT
Industry & Resources
The new pact promotes extensive industrial cooperation in areas ranging from metallurgy and mineral extraction to pharmaceuticals.
Previous successful joint ventures have included the Rusoro gold mining project, and panel housing, with Russia providing the technical know-how.
International Diplomatic Coordination
Russia and Venezuela have each other’s backs at the UN, resisting Western pressure and building a multipolar world.
Venezuela has strongly supported Russia amid the crisis in Ukraine.
Russia has vowed to back Venezuela against US “regime change” plots.
Military Support
The two countries have held multiple joint military exercises, and Russian warships and strategic aircraft have visited the Latin American nation repeatedly.
Venezuela has amassed a vast arsenal of Russia-sourced equipment, from AK rifles produced under license to Igla-S, BUK-M2 and S-300VM SAM systems, BM-30 MLRS, Msta-S howitzers, armored transports and infantry fighting vehicles, Ural military trucks and even Su-30 jets
What Stands Out in the New Pact?
The new agreement, signed by the Russian and Venezuelan presidents in May and now approved by Venezuela’s parliament, aims to take cooperation to a new level, focusing on resistance to sanctions, multilateralism and defense of sovereignty against foreign interference.
The agreement promises to considerably enhance joint venture opportunities and provides for the simplification of Eurasian Economic Union protocols on customs duties, reducing tariffs on Venezuelan goods by 25% to facilitate trade. The two countries are also looking to expand acceptance of the MIR payment system in Venezuela.
Caracas is eager to joint BRICS+. Russia has reaffirmed its support for its membership.
Strategic Implications for Venezuela & the Region
Along with Iran (energy infrastructure, drone tech), China (trade, large-scale investments), and Cuba (medical, technical personnel), strong ties with Russia are crucial in assisting the Bolivarian Republic’s decades-long campaign to resist US imperialism.
