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Venezuela, Russia Forge Strategic Alliance

Posted by smeddum on November 2, 2008

Venezuela, Russia Forge Strategic Alliance
Caracas, Nov 1 (Prensa Latina) Venezuela and Russia are preparing a meeting of their top leaders, with implications likely to have more than a binational nature by forging an oil alliance for joint operation in third countries.

Russian Vice President Igor Sechin is expected to arrive in Caracas on November 3rd to arrange details of a visit by Russian President Dimitri Medvedev, scheduled for late November.

Yesterday, at a partisan gathering in Maracaibo, 435 miles west of Caracas, Chavez announced that an alliance between state Petroleos de Venezuela (PDVSA) and Russian giant Lukoil is expected to be agreed at the said summit.

The establishment of a Russian-Venezuelan development bank is also expected as part of efforts to move Venezuela away of international financial swings.

These two projects deemed strategic by Chavez will give shape to a broad-range strategy between the two countries, including military cooperation.

At least 60 businesspeople will accompany Vice President Sechin on Monday. Their mission is to identify prospective business areas.

Drilling of Venezuela’s first off-shore gas well, involving a Russian platform, will also start in November.

The Russia-Venezuela rapprochement is part of a global approach of international relations and the concept to promote a multipolar world as an international policy projection.

It is also a significant step to remove Venezuela’s economic dependency on the United States, its main trade partner, to which it exports over one million oil barrels a day.

The alliance emerges as a diversification option for Latin America, which has been striving to get rid of the US backyard stigma by joint stances and opening to new partnerships.

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One Response to “Venezuela, Russia Forge Strategic Alliance”

  1. […] Venezuela, Russia Forge Strategic AllianceVenezuela, Russia Forge Strategic Alliance Caracas, Nov 1 (Prensa Latina) Venezuela and Russia are preparing a meeting of their top leaders, with implications likely to have more than a binational nature by forging an oil alliance for … […]

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