Russia & Venezuela to deepen partnership in oil sector amid mounting Western sanctions

In his latest remarks, Venezuelan Foreign Minister Carlos Faria hinted that Moscow and Caracas would continue to deepen their partnership in the oil sector and are drafting a new pact to evade Western sanctions in the financial and logistical sectors.

"We have an extremely negative view of the policy which the United States has been pursuing for many years against various countries, against various governments...We unquestionably condemn the use of these illegal sanctions against any country," Faria said, after meeting his Russian counterpart Sergey Lavrov in Moscow on Monday, Sputnik reported. 

The Venezuelan Foreign Minister further claimed that the West failed to achieve the aim of sanctions. Faria also termed it as a grave miscalculation by the West which is "unforgivable." According to him, this miscalculation caused the issues that the economies of the United States and the European Union (EU) are currently facing. "Today, they do not know how to resolve the difficulties that have arisen, how to return life to normal. And I think this will certainly hit the people of these countries," he added. 

Venezuelan FM Faria hopes to overcome US sanctions-related barriers

Further, the Venezuelan minister also expressed hope that barriers related to US sanctions can be overcome by Moscow and Caracas. "The conditions in which we found ourselves thanks to the actions of the US administration hindered the development of the oil industry," Faria told the Russian news agency.

He also expressed his gratitude to the Russian government for the political support of the national processes that are taking place in Venezuela. Meanwhile, Russian Foreign Minister Lavrov hailed the return of normalcy in Venezuela and also promised to provide all the possible help for the country's sustainable development. 

Rusia and Venezuela developed strong defence, trade, & economic ties

"As our Presidents have agreed, we have reaffirmed our focus on the deepening of political dialogue, of economic, trade, cultural and humanitarian exchanges. We agreed to promote mutually beneficial projects in a host of areas, including energy, pharmaceuticals, industry, transport and military-technical cooperation," Lavrov was quoted by Sputnik as saying. 

Notably, Moscow and Caracas have developed strong defence, trade, and economic connections despite their vast geographic separation. Meanwhile, Russia, China, and Iran have also extended their ties with Venezuela and offered major political, economic, and other support to the Latin American country. 

(Image: @Fariacrt/Twitter/AP)