Snip:
The new agreement, signed by the Russian and Venezuelan presidents in May and now approved by Venezuela’s parliament, aims to take cooperation to a new level, focusing on resistance to sanctions, multilateralism and defense of sovereignty against foreign interference.
The agreement promises to considerably enhance joint venture opportunities and provides for the simplification of Eurasian Economic Union protocols on customs duties, reducing tariffs on Venezuelan goods by 25% to facilitate trade. The two countries are also looking to expand acceptance of the MIR payment system in Venezuela.
Caracas is eager to joint BRICS+. Russia has reaffirmed its support for its membership.
Along with Iran (energy infrastructure, drone tech), China (trade, large-scale investments), and Cuba (medical, technical personnel), strong ties with Russia are crucial in assisting the Bolivarian Republic’s decades-long campaign to resist US imperialism.