The energy agreements established between Venezuela and Russia over the last two decades remain in effect but are impacted by US sanctions against Venezuela, National Assembly Deputy Jesús Faría told Sputnik. Faría is the president of the National Assembly’s Economy and Finance Commission.
“The energy agreements and, in general, all the agreements signed with the Russian Federation remain in effect,” he said. “However, the capacity for developing them is seriously restricted by the imperialist sanctions that have been affecting our country for almost a decade and fundamentally threaten our economic partners.”
Earlier this week, at the Gas Exporting Countries Forum (GECF), Russian President Vladimir Putin and Venezuelan Acting President Delcy Rodríguez highlighted the importance of the energy cooperation in which Moscow has invested “billions of dollars.”
In her statements, Rodríguez said that it was a “serious mistake” to exclude Russia from the global gas market amid the current geopolitical challenges.
In this regard, Faría stated that Venezuela defends international relations built “freely, without obstacles or extortion; always based on respect, non-interference, and equitable benefits.”
Natural gas potential
In this regard, Deputy Faría stated that his country has great potential for national and regional energy development.
“We are witnessing the first steps of Venezuela as a gas exporter. This will contribute to regional integration, with a special contribution to the energy sector from our side for the stability and development of the peoples of our continent,” Faría remarked to Sputnik.
He also reiterated that the lifting of the unilateral sanctions is one of Caracas’ main demands to increase its gas production capacity.
“The gas sector in Venezuela will constitute a new lever for the development of a modern, productive, and diversified economy, but it will primarily serve the well-being of our people through the restoration of the socialist welfare system that has been severely impacted by the economic blockade,” he added.
Western sanctions against Russia failed
Faría said that the collective West has failed in its attempt to weaken Russia’s energy development through sanctions. “The US sanctions that prevented European nations from buying Russian oil and gas and forced Western companies to withdraw from Russia have not hindered the productive strengthening of the Russian energy sector,” he said.
He further pointed out that the West’s collective aggression against Russia has “spectacularly” failed in the military, political, diplomatic, economic, and energy fields. In his opinion, Russia has emerged stronger in the energy sector amid the conflict surrounding Ukraine.
He added that the US began establishing agreements with Russia in the energy sector in light of the defeat of Western policy, which had aimed to isolate and financially suffocate Russia.
“It is impossible to function without an energy giant the size of Russia in the energy markets,” emphasized Faría. He added that the agreements between Caracas and Moscow in this and other areas remain in effect despite the US sanctions against Venezuela.
Currently, Venezuelan officials are negotiating the export of liquefied petroleum gas with several Latin American countries. According to the government, Venezuela is in the process of being certified as the fourth-largest gas reserve in the world.
On May 8, 2025, Venezuelan President Nicolás Maduro and Vladimir Putin signed a strategic partnership in Moscow that established a roadmap to strengthen cooperation in the economy, energy, mining, and other strategic areas.
Cooperation between Caracas and Moscow is reflected in more than 350 bilateral documents signed to establish a strategic alliance between the two countries.
(Sputnik)
Translation: Orinoco Tribune
OT/SC/SF
From Orinoco Tribune via This RSS Feed.
Dafuq are they gonna sanction? It’s a fucking love triangle at this point.
