Venezuela: Resistance or disintegration?

While the U.S. contends that “all options are on the table,” the media is starting to take notice of Guaido's repeated failures.

From Golden Boy to “Deflated:” The Media Trajectory of Juan Guaido
At first, Venezuelan opposition leader Juan Guaido was characterized by the mainstream media as the eighth wonder of the world. But now, after his failed military revolt, it seems "Coupbama" (as Guaido is known) is being treated more harshly by the press.

In the immediate aftermath of the attempted military coup, the mainstream media launched into a defense of the maneuver, admonishing anti-war activists and intellectuals alike for correctly identifying it as a coup attempt. The Daily Beast declared that “John Bolton is right,” it wasn’t a coup; Al Día, a Philadelphia-based news outlet focused on the experience of Latinos in the U.S., called it a “civic-military rebellion;” and Bloomberg and the Miami Herald ran op-eds to similar effect.

Guaido declared that the military coup was the “final phase” of “Operation Liberty” during a video recorded of him standing next to about a dozen armed soldiers. But after CNN’s Fareed Zakaria pointed out to Guaido’s ambassador to the U.S., Carlos Vecchio, that “nothing really happened that day,” Vecchio explained: “This is a process. This is an ongoing process. It’s not a single event. So we are moving forward in order to conquer freedom.”

Despite Vecchio’s obvious misspeaking about conquering freedom, the quote is revealing as an it attempts to maintain support for the flailing coup. As Morning Call writes:
[The] failed military uprising and a spate of violent but fruitless demonstrations have some wondering if Guaido, and the opposition at large, have what it takes to oust Maduro and end 20 years of single-party rule.”
It also notes that polls show Guaido’s support in decline, as he has failed to deliver any tangible accomplishments to the opposition. Even the New York Times conceded that “the protests that filled the streets with Mr. Guaidó’s supporters are dwindling.” And the failed April 30 coup follows a long list of other provocations, including the failed attempt to have U.S. “humanitarian aid” cross the border into Venezuela from Colombia.

Now Guaido, unable to shore up enough support domestically to overthrow the government, is trying to appeal to the Pentagon.

“If the Americans were to propose a military intervention I would probably accept it,” Guaido recently told Italian media. Indeed, Vecchio was to meet with U.S. Southern Command on Monday but reports indicate that the meeting failed to come to fruition.

Later, Vecchio tweeted that he would be meeting instead with the State Department and Pentagon jointly.

The New York Times characterized Guaido as “deflated,” but later removed the descriptor from their headline

Negotiation option suddenly on table
While the U.S. contends that “all options are on the table,” the media is starting to take notice of Guaido’s repeated failures. The LA Times wrote “U.S.-Guaido strategy flops again: Is this working?” On Wednesday, the Washington Post characterized the attempted military coup as an “abortive uprising” and a “failure.” Slate ran with the headline: “A Reality Check for Venezuela.”

An article published by the Times on Tuesday characterized Guaido as “deflated” in its headline, which has since been altered.
Flashback to January after Guaido declared himself president, when outlets like TIME — which have since named Guaido one of the most important people of the year — were writing things like “Guaido is reviving a deflated opposition movement.”
Initially, the opposition showed total unwillingness to engage in any kind of negotiations with the government. Vecchio told Bloomberg in January:
We’re not willing to participate in any dialogue of the type Maduro is interested in, and the only thing we will accept in our agenda is how we will negotiate his exit.”
Guaido too has rejected a number of mediation offers, including from Mexico, Uruguay, the European Union and Russia. Now, emissaries from the opposition and the Maduro government are meeting in Norway for talks. Simultaneously pursuing U.S. military intervention and now agreeing to talks, it appears that all options are also on the opposition’s table.
 
The Peace talks held in Norway didn't give Guaido any advantage. After a phone conversation with VP Pence, Guaido announced he's planning more street protests.

VP Pence says he talked to Venezuelan opposition leader Guaido
U.S. Vice President Mike Pence said he talked to Venezuelan opposition leader Juan Guaido by phone on Wednesday and called again for Venezuelan President Nicolas Maduro to go.

Venezuela's Guaido vows protests as Oslo talks produce no deal
Venezuelan opposition leader Juan Guaido vowed to press ahead with street protests after talks with government officials hosted by Norway ended on Wednesday without progress towards resolving the South American country's long-running political crisis.

Relief from U.S. sanctions will not come easily for some Venezuelans
FILE PHOTO: Venezuela's President Nicolas Maduro talks during a rally in support of the government in Caracas, Venezuela May 20, 2019. REUTERS/Ivan Alvarado

FILE PHOTO: Venezuela's President Nicolas Maduro talks during a rally in support of the government in Caracas, Venezuela May 20, 2019. REUTERS/Ivan Alvarado

Immediately after he turned against Venezuelan President Nicolas Maduro, the United States lifted economic sanctions against
Manuel Cristopher, a general who served as the leftist leader’s spy chief.

But other former Venezuelan officials will find it more difficult to get off a U.S. sanctions list unless they follow Cristopher’s lead and take bold, tangible action against Maduro, say people in and close to the Trump administration.

Using economic sanctions to turn high-ranking military officials and other top officials against Maduro is key to the US attempt to remove the socialist President, whose country is suffering an economic collapse and a political crisis.
 
Brazil withdrew an invitation to the envoy for Venezuelan opposition leader Juan Guaido to present her diplomatic credentials, she said on Friday, and the government in Brasilia said it would decide later whether to accept them.

Brazil snubs Venezuelan opposition envoy as doubts rise on Guaido
FILE PHOTO - Venezuelan opposition representative Maria Teresa Belandria, who was received as her country's official ambassador to Brazil, smiles after a news conference in Brasilia, Brazil February 11, 2019. REUTERS/Ueslei Marcelino

FILE PHOTO - Venezuelan opposition representative Maria Teresa Belandria, who was received as her country's official ambassador to Brazil, smiles after a news conference in Brasilia, Brazil February 11, 2019. REUTERS/Ueslei Marcelino

Brazilian President Jair Bolsonaro still recognizes Guaido as the legitimate president of Venezuela, his spokesman said. Guaido’s envoy, Maria Teresa Belandria, played down the idea that the snub reflected skepticism from Bolsonaro’s government.

Diplomatic analysts said mounting evidence that a change of government in Venezuela is not imminent may have Bolsonaro and his aids wondering if they overplayed their support for Guaido.

Belandria had been invited to present her credentials at the presidential palace along with ambassadors from other countries next Tuesday, but the government changed its mind.

Former military officers making up about a third of Brazil’s cabinet have been wary of provoking Venezuelan President Nicolas Maduro, warning against moves that could tip an economic and political crisis into violence across Brazil’s northern border.

Brazilian newspapers Folha de S.Paulo and O Globo reported that Bolsonaro’s government had canceled her invitation because ex-military aids want to pursue dialogue with Maduro, who also has an official representative in Brasilia.

“They realize Brazil has to deal with the reality that Maduro is not going anywhere right now and, even if he leaves, Guaido will not be president and a general will likely take his place,” said Oliver Stuenkel, a professor of foreign relations at the Getulio Vargas Foundation in São Paulo.

Pence calls on Canada to do more to engage Cuba over Venezuelan crisis
U.S. Vice President Mike Pence speaks during a news conference in Ottawa, Ontario, Canada, May 30, 2019. REUTERS/Chris Wattie

U.S. Vice President Mike Pence speaks during a news conference in Ottawa, Ontario, Canada, May 30, 2019. REUTERS/Chris Wattie

U.S. Vice President Mike Pence on Thursday called on Canada to do more to engage directly with Cuba over what Pence called the island nation's "malign influence" on Venezuela's political crisis.

Pence said earlier in his visit to Ottawa that Canada should help “expose” Cuba’s negative impact, and Canadian Prime Minister Justin Trudeau responded that he thought Cuba could still help resolve the crisis.

Canada and the United States want Venezuelan President Nicolas Maduro to step down to open the way for opposition leader Juan Guaido to take over until new elections can be held.

But they do not always see eye to eye on the best way to achieve that. The United States has accused Cuba, a longtime ally of Venezuela’s socialist government, of providing intelligence personnel to help prop up Maduro. That is denied by Havana.

“The United States sees Cuba’s role for what it is, and we will continue to bring pressure to bear on Cuba until the people of Venezuela are free,” Pence told reporters traveling with him.

Trudeau, meanwhile, has reached out to Cuba on behalf of the Lima Group, a bloc of mostly Latin American countries seeking a peaceful resolution to the standoff.

Cuban vice president arrives in Moscow
HAVANA, May 31, 2019 - Cuban Council of Ministers Vice President Ricardo Cabrisas has arrived in Moscow on a working visit. During the visit, he plans to meet with Russian Deputy Prime Minister Yuri Borisov and heads of several Russian ministries, the Prensa Latina news agency informed on Friday.

Cabrisas will meet with Russian Transport Minister Yevgeny Dietrich and Russian Minister of Agriculture Dmitry Patrushev, the agency reports. The Cuban official also plans to discuss cooperation in the sphere of energy.

Earlier this week, Russian Foreign Minister Sergey Lavrov had held talks with his Cuban colleague Bruno Rodriguez Parrilla, who came to Moscow on a working visit. The Ministers discussed political dialogue between the two countries, as well as expanding economic, investment and cultural-humanitarian ties. They also touched upon the implementation of existing large-scale projects between Russia and Cuba. On the outcomes of the talks, the sides signed a plan of consultations for the years 2020-2022, which, according to Lavrov, will set the tone for future contacts between the Russian and Cuban foreign ministries.

The main issue on the agenda was the current situation in Latin America in the light of Washington's attempts to reinvent the Monroe Doctrine and exert its influence over the region.
 
I'm not coming across any current news on Venezuela ... other then this report? VP Pence gave Guaido - his marching orders - to hold protests but left on his own, I haven't noticed any activity.

Sunday June 2, 2019 - Russian top diplomat to discuss Venezuelan issue with Colombian counterpart in Moscow
Russia’s Foreign Minister Sergey Lavrov on June 3 will hold talks with his Colombian counterpart Carlos Holmes Trujillo, who will pay a working visit to Moscow on June 3-9, the ministry said in a statement on Sunday.

"The talks with Russian Foreign Minister Sergey Lavrov, which are aimed at giving a fresh impetus to the whole complex of the Russian-Colombian relations, confirm the mutual strive for expansion of the multifaceted relationship between Moscow and Bogota, are scheduled for June 3," the statement said.

"An increased focus will be put on the situation in Venezuela and around it during the meeting," the ministry noted.

The country’s top diplomat will participate in the seventh meeting of the intergovernmental Russian-Colombian commission and the St. Petersburg International Economic Forum during his visit to Russia.
 
I don't think Maduro is going to lose much sleep over this?

Canada will suspend operations at its embassy in Venezuela immediately because its diplomats will no longer be able to obtain visas, the Canadian foreign minister said on Sunday.

Canada suspends Venezuela embassy operations, reviewing Maduro envoys
FILE PHOTO: Canada's Foreign Minister Chrystia Freeland speaks during a news conference in Ottawa, Ontario, Canada, December 12, 2018. REUTERS/Chris Wattie/File Photo

Chrystia Freeland said in a statement that President Nicolas Maduro’s “regime has taken steps to limit the ability of foreign embassies to function in Venezuela.”

Canada is one of a dozen countries in the Lima Group regional bloc, along with Brazil, Argentina and Chile, which recognizes opposition leader Juan Guaido as the legitimate Venezuelan leader and is demanding that Maduro resign.

“Unfortunately, at the end of the month, Canadian diplomats in Venezuela will no longer be in a position to obtain diplomatic accreditation under the Maduro regime, and their visas will expire," Freeland said in the statement. “Therefore, we are left with no choice but to temporarily suspend our operations at the embassy of Canada to Venezuela, effective immediately.

Freeland said Canada was “also evaluating the status of Venezuelan diplomats appointed by the Maduro regime to Canada.”
 
Russia and China want situation in Venezuela to stabilize: Putin
Venezuela's President Nicolas Maduro greets during an event with Venezuelan athletes who have participated in international tournaments, in Caracas, Venezuela June 4, 2019. Miraflores Palace/Handout via REUTERS ATTENTION EDITORS - THIS PICTURE WAS PROVIDED BY A THIRD PARTY.

Russian President Vladimir Putin said on Wednesday after talks in Moscow with Chinese leader Xi Jinping that Moscow and Beijing wanted the situation in Venezuela to stabilize.

Xi says China will play 'constructive role' on Venezuela
FILE PHOTO: Chinese President Xi Jinping attends a meeting at the Great Hall of the People in Beijing, China May 24, 2019.  REUTERS/Florence Lo/Pool/File Photo

China will work with the international community to play a constructive role with Venezuela and help the country to get back on a normal development path as soon as possible, Chinese President Xi Jinping told Russian media.

Brazil's Bolsonaro formally recognizes Venezuelan opposition envoy
Brazil's President Jair Bolsonaro stands with Venezuela's ambassador to Brazil Maria Teresa Belandria during the credentials presentation ceremony of several new diplomats, at the Planalto Palace in Brasilia, Brazil June 4, 2019. REUTERS/Adriano Machado

Brazil's right-wing President Jair Bolsonaro received the diplomatic credentials of Venezuelan opposition leader Juan Guaido's envoy to Brazil, formally recognizing her as the ambassador of the neighboring country.

Venezuelan activist Tintori, wife of opposition's Lopez, arrives in Spain
FILE PHOTO: Lilian Tintori, wife of opposition leader Leopoldo Lopez, arrives to attend a session in Caracas, Venezuela January 15, 2019. REUTERS/Carlos Garcia Rawlins/File Photo

Human rights activist Lilian Tintori, wife of Venezuelan opposition politician Leopoldo Lopez, arrived in Spain on Tuesday with her daughter, the Spanish government said.

Tintori decided to leave the Spanish ambassador’s residence in Caracas, where she had been staying as a guest, a government spokeswoman said. She had gone there with Lopez on April 30, following a failed uprising against President Nicolas Maduro.

Lopez briefly appeared on the streets of Caracas as part of a failed uprising against Maduro, and later sought refuge in the Spanish ambassador’s residence.

After granting Lopez access to the residence, acting Foreign Minister Josep Borrell said in early May that Spain would not allow its embassy in Caracas to be used as a political center.

The Spanish government said at the time that it would not turn Lopez over to the Venezuelan authorities after a court issued a warrant for his arrest, but it also said that it would not grant him asylum.

Trump: Russia told U.S. 'most of their people' have left Venezuela
President Donald Trump said on Monday that Russia told the United States it had removed "most of their people" from Venezuela, where Moscow has maintained military and economic ties with socialist President Nicolas Maduro.

Kremlin dismisses Trump tweet on alleged Venezuela withdrawal
The Kremlin said on Tuesday it didn't know where U.S. President Donald Trump had got the idea Moscow had removed most of its military specialists from Venezuela, who it said continued to work there.

Lima Group and EU urge more international involvement in Venezuela
Canadian Foreign Minister Chrystia Freeland speaks along side Peruvian Foreign Minister Nestor Popolizio and Chilean Foreign Minister Roberto Ampuero during a news conference at United Nations headquarters in New York, U.S., June 3, 2019. REUTERS/Mike Segar

The Lima Group regional bloc and EU-led contact group on Venezuela on Monday called on Latin America and the broader international community to play a more active role in restoring democracy to Venezuela.
 
Russian President Vladimir Putin warned on Thursday that U.S. military intervention in Venezuela would be a disaster and said even Washington's allies did not support such a course of action.

Putin says U.S. military intervention in Venezuela would be a disaster
FILE PHOTO: Delegations, led by Russian President Vladimir Putin (5th R) and Venezuelan President Nicolas Maduro (4th L), hold a meeting at the Novo-Ogaryovo state residence outside Moscow, Russia December 5, 2018. REUTERS/Maxim Shemetov/File Photo

FILE PHOTO: Delegations, led by Russian President Vladimir Putin (5th R) and Venezuelan President Nicolas Maduro (4th L), hold a meeting at the Novo-Ogaryovo state residence outside Moscow, Russia December 5, 2018. REUTERS/Maxim Shemetov/File Photo

Speaking at an economic forum in St Petersburg, Putin also said that Russian technical specialists remained in Venezuela in order to service Russian military hardware, something he said they were contractually obligated to do.

However, he said Moscow was not setting up any special military bases in Venezuela, a close Russian ally.

Russia, China stand against military intervention in Venezuela
MOSCOW, June 5, 2019 - Russia and China stand against a military intervention in Venezuela, a joint statement by Russian President Vladimir Putin and Chinese President Xi Jinping on the outcomes of their talks in Moscow informs.

According to the document, Moscow and Beijing aim "to monitor the development of the situation in Venezuela, to call all sides to adhere to the UN Charter, the norms of international law and inter-governmental relations, to respect the principle of non-interference in the internal affairs of other states, to aid a peaceful solution of the country’s issues by means of inclusive political dialogue and to stand against a military intervention in Venezuela."

Moscow and Beijing have also reaffirmed their support of negotiations related to Latin America and their commitment to continue developing bilateral relations with the countries in the region.

Maduro says Venezuelan people want new parliamentary election
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© Valery Sharifulin/TASS

CARACAS, June 5, 2019 - Venezuelan President Nicolas Maduro has said that people want to hold parliamentary election to renew the composition on the National Assembly, the country's unicameral parliament currently controlled by the opposition.

"We are ready to hold parliamentary elections. The country wants the composition of the National Assembly to be renewed," Maduro said at the session of Venezuela's defense council.

He also called on supporters and all people of the Bolivarian Republic to "strengthen political stability in the country." "US imperialism tries to harm Venezuela from the inside and from the outside every day," Maduro said.

Venezuela is repaying its $3.5 bln debt to Russia in good faith, says Putin
In November 2017, Russia and Venezuela signed an intergovernmental protocol on debt restructuring for $3.15 bln over 10 years with minimum payments in the first six years

Venezuela’s debt to Russia amounts to $3.5 bln and Caracas is repaying it in good faith, Russian President Vladimir Putin said at a meeting with heads of international news agencies, organized by TASS.

"Venezuela’s loan obligations to Russia reach around $3.5 bln," Putin said. "Venezuela pays and services all its credit obligations timely and in full," he added.
 
No surprise - here. Guaido and his legislator co-conspirators can now go protest at the unemployment line.

Lima Group rejects Venezuela Maduro's call for early legislative elections
The Lima Group regional bloc on Thursday rejected Venezuelan President Nicolas Maduro's call on May 20 for early elections for the National Assembly, which is run by the opposition.

Moscow ready to send more military specialists to Venezuela if needed: RIA
Russia is ready to send more military specialists to Venezuela if needed, Russia's foreign ministry said according to state news agency RIA.

U.S. tightens Venezuela oil sanctions, indicates more actions to come
FILE PHOTO: Venezuela's President Nicolas Maduro waves during his visit to a packing center of the CLAP (Local Committees of Supply and Production) program, a Venezuelan government handout of basic food supplies, in Caracas, Venezuela May 28, 2019. Miraflores Palace/Handout via REUTERS

The U.S. Treasury Department on Thursday tightened its pressure on Venezuela's state-owned oil company by making clear that exports of diluents by international shippers could be subject to U.S. sanctions.

Venezuela Socialist Party deputy head visits ally Cuba for two days
FILE PHOTO - Venezuela's National Constituent Assembly President Diosdado Cabello walks after participating in a rally in Caracas, Venezuela, May 1, 2019. REUTERS/Carlos Eduardo Ramirez

Venezuela's ruling Socialist Party Vice President Diosdado Cabello met with Cuban government officials on Friday during a trip to Havana in a show of unity even as Cuba is being courted to help resolve the political crisis facing its ally.

On a side note - US is sanctioning Cuba, a Venezuelan ally:

U.S. cruise operators stop sailing to Cuba, travelers vent anger online
Men watch the cruise ship MS Empress of the Seas, operated by Royal Caribbean International, as it leaves the bay of Havana, Cuba, June 5, 2019. REUTERS/Alexandre Meneghini

Major U.S. cruise operators said on Wednesday they will no longer sail to Cuba following the Trump administration's ban on travel to the Caribbean island, angering travelers and prompting worries about trip cancellations and company earnings.
 
At this stage of the game, it seems Canada's FM Freeland is more active - then Guaido?

Venezuela's Guaido says no plans for further talks in Norway
FILE PHOTO - Venezuelan opposition leader Juan Guaido, who many nations have recognised as the country's rightful interim ruler, speaks at a meeting at the Andres Bello Catholic University in Caracas, Venezuela May 24, 2019. REUTERS/Manaure Quintero

Venezuelan opposition leader Juan Guaido said on Friday that the opposition does not currently plan to join a new round of talks in Norway with representatives of President Nicolas Maduro, after mediation efforts collapsed last month without a deal.

Canada says Cuba will have a role to play in Venezuela's return to democracy
FILE PHOTO - Canadian Foreign Minister Chrystia Freeland speaks during a news conference at United Nations headquarters in New York, U.S., June 3, 2019. REUTERS/Mike Segar
Cuba will have a role to play in Venezuela's return to democracy, Canadian Foreign Minister Chrystia Freeland said on Friday, even though Ottawa and Havana disagree on whether President Nicolas Maduro should stay in office.

Venezuela partially opens border with Colombia that was shut in February
FILE PHOTO - People walk on the Simon Bolivar cross-border bridge between Venezuela and Colombia, on the Venezuelan side of the border, as seen from Cucuta, Colombia April 30, 2019. REUTERS/Juan Pablo Bayona.

Venezuelan President Nicolas Maduro on Friday announced a partial opening of the country's border with Colombia, which his government closed in February as opposition leaders prepared an ultimately failed effort to bring aid into the country.
 

Venezuela Socialist Party deputy meets Castro in show of unity on Cuba trip
Venezuela's ruling Socialist Party Vice President Diosdado Cabello met with Cuban Communist Party chief Raul Castro on Friday in Havana in a show of unity as the United States steps up pressure on the governments of the allied nations.

In a news conference at the Havana airport, Cabello said they had discussed preparations for the Sao Paulo forum of the leftist Latin American and Caribbean groups in Caracas next month and how to better integrate their two nations.

Cuba’s President Miguel Diaz-Canel and Cuban Communist Party deputy leader Jose Ramon Machado Ventura took part in the meeting with Cabello, who had earlier on his two-day trip to Havana also met separately with Foreign Minister Bruno Rodriguez.

“We need to be united because we have a very powerful enemy in common,” Cabello told reporters.

Cuban state-run media said that Castro had “reiterated Cuba’s firm support to the Venezuelan people and government”.

Cabello dismissed the Lima Group's intentions as "hostile towards Venezuela" and totally in line with those of the United States even if they sounded more benign.

Cuba, which has been a key backer of the Venezuelan government since the leftist Bolivarian Revolution that began under former president Hugo Chavez in 1998, has said it is open to help mediate but will never betray its ally.

Cuba has mediated in other regional crises in the past, most notably hosting the peace talks between Colombia’s government and Marxist FARC rebels.

However, analysts say Cuba, which receives subsidized oil from Venezuela in exchange for exports of Cuban professional services, has an economic interest in the Socialist Party staying in power. The Venezuelan opposition has said it would revise that deal.
 
A little while back there was so ruckus on the US about Jorge Ramos, a "journalist" from Univision, a spanish language US based tv channel. He went to Caracas to "interview" Nicolas Maduro... and was then held against his will.

Well, I know most of you don't speak spanish, but for those of you who do... here's for your delight, Jorge Ramos being annoying for 17 minutes straight. Funny thing is that most of the comments on YouTube are about how annoying, unprofessional, unobjective, and propagandistic Ramos is... Some even said that it made Maduro look rather brilliant (which he isn't, to be perfectly honest) which I agree with:

 
As an addendum to my previous post and so that some of the non-spanish speakers get to understand what Maduro was dealing with, Ramos claims: "im just a journalist asking questions that you're refusing to answer". But he literally begins the interview with:

You're not the president, you're usurping power here, what should I call you?

Maduro answers, well here's the constitution, according to this book and the election results, i am the president.

So he goes, well the interim president Guaido doesn't recognize you, what should I call you then? 52 countries do not recognize you. And maduro insists on elections, and Ramos does not even acknowledge anything Maduro says.

in Summary, her went to Caracas to insult someone he claims is a dictator, if that were the case, he'd be dead and not back in Miami.
 
In the past few weeks, there has been some indications, when it was reported Venezuela was current with its payments owed to Russia, that the Russian ruble was to take the place of the American dollar in transactions.

The Russian currency will replace the dollar in transactions between the two countries, Tareck El Aissami, Venezuela’s vice president of the economy, said at the St. Petersburg International Economic Forum.

Jun 09 2019 - Venezuela to Use Ruble in Trade with Russia to Bypass US Sanctions
“Unilateral American sanctions are preventing us from using US dollars to settle,” the official told Sputnik on Saturday, adding, “So we have developed a mechanism so that we can fulfil our obligations to Russia, and it will operate in rubles.”

According to a statement from Russian President Vladimir Putin at the same event, Caracas owes Moscow US$3.5 billion, and has so far managed to service its debt.

The workaround should allow Venezuela to circumvent financial and industrial sanctions imposed by the current White House administration, while also shielding the Russian side from additional penalties from Washington.

The ruble payment mechanism was first touted last month, but its operational details and time of introduction remain sketchy, and El Aissami, who was the country’s vice president until last year, and is considered one of President Nicolas Maduro’s top lieutenants, did not elaborate.

El Aissami, who is also the international director for state-owned oil giant PDVSA, stated that the company would look to deepen ties with Russian counterpart Rosneft. The two operate half a dozen joint oil and gas projects inside the South American country, and the Russian corporation is owed billions of dollars by PDVSA, which is repaying its obligations in crude oil supplies.

“We are developing relationships with Rosneft and are looking at all options of cooperation with the company,” El Aissami noted.



Jun 09 2019 - Venezuela Halts Services at Consulates in Canada Until It 'Regains Sovereignty in Foreign Policy'
Venezuela will no longer provide services at it's consulates in Canada in response to Ottawa shutting down its embassy in Caracas. Canada must stop toeing the US line in its foreign policy, it announced.
 
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