Venezuela will allocate $480 million to upgrade its Sukhoi fighter jets from Russia. President Nicolas Maduro just authorized the payment of $480 million so that the service life of our Sukhoi planes and continue to fulfill their duty and give protection to the Venezuelan airspace, Venezuelan Defense Minister Vladimir Padrino Lopez was quoted, by Moscow's Sputnik news agency on Thursday.
Venezuela central bank gold holdings declined in value by 19% between January and May, according to its financial statements, likely reflecting gold swap operations and lower bullion prices. The country has been struggling with stagflation due to low oil prices and a collapsing state-led economic model, holds a considerable portion of its monetary reserves in gold.
Venezuela has objected to a Canadian mining company operating in Guyana, telling the company it is infringing on Caracas’ sovereignty. And the move has not gone down well with Guyana’s president David Granger.
Russia and Mexico – non-OPEC countries, which have been invited to participate Venezuela-proposed meeting this week – have no intention to cut oil production, International Oil Daily reported.
Venezuela's proposed 2016 government budget is based on an estimate of $40 per barrel for the OPEC nation's oil exports, Finance Minister Rodolfo Marco said in a presentation to congress on Tuesday.
Against the background of what he said were continued territorial threats from both Venezuela and Suriname, Guyana President David Granger has announced a Total National Defense Policy.
Caribbean Community and Common Market (CARICOM) Foreign Ministers have welcomed Venezuela’s decision to receive a United Nations (UN) technical team which will provide recommendations to the UN Secretary-General on the way forward to a full and final solution to its territorial dispute with Guyana. And they say they fully support Guyana’s “territorial integrity”.
By Leopoldo López - Prisión de Ramo Verde, Venezuela. On Feb. 12, 2014, the repressive and inept elite that governs Venezuela ordered my arrest on charges of conspiracy, arson, inciting violence, damage to public property and other crimes.
Following a tense meeting, the presidents of Venezuela and Guyana agreed Sunday to restore ambassadors and hold talks to resolve a long-running border dispute that flared up recently following the discovery of oil in disputed waters.
The Guyana Defence Force (GDF) says it’s ready to defend the country against any act of aggression at the country’s border with neighbour Venezuela. The declaration was made by the GDF’s Chief-of-Staff Brigadier Mark Phillips, as Minister of State Joseph Harmon also assured that President David Granger was “on top of the situation”, which he described as 'a show of force' and 'not a threat of force'.