Russia is preparing to welcome Venezuela's president on a visit as the two countries expand their energy ties.
Russia expects to welcome Venezuela’s President Nicolas Maduro on a visit as part of the expanding Russia-Venezuela ties, including in the energy sector, Russian Deputy Prime Minister Alexander Novak said on Monday. “We expect the president of Venezuela to visit Russia per the invitation extended to him,” Novak, Russia’s top oil official, said, as carried by Russian news agency TASS. Novak did not provide details on a forthcoming visit.
Overall trade between Russia and Venezuela jumped by 70% between January and July 2023 and has surged by 77% over the past five years, according to the Russian deputy prime minister. Shunned and sanctioned by the West over Putin’s invasion of Ukraine, Russia has turned to the few allies it has left on the global stage, including fellow sanctioned oil exporters Venezuela and Iran.