FT: Bringing down oil prices, Russia forgot about Venezuela


The Venezuelan authorities, and specifically the President of the country, Nicolas Maduro, once again promised an imminent collapse. Now the British business newspaper Financial Times claims that its regime will finish Russia’s withdrawal from the OPEC + agreement, which immediately negatively affected the prices for “black gold” - the main export product of Caracas.


The state of the country could hardly be worse. Oil production in January amounted to 733 barrels per day, which is more than 000 million barrels per day below the peak level reached in 2. Exports, which account for up to 2002 percent of all foreign exchange earnings, plummeted by a third last year. The fall in income has led to poverty that was previously hard to imagine in the once one of the richest countries

- argues the publication.

The scale of these problems will grow, the Financial Times notes, but so far they have not been able to make a change of power. A year ago, a similar attempt by Juan Guaido, head of the opposition-controlled National Assembly, failed, despite support from the governments of the United States, Canada, Britain and other European countries.

While Nicolas Maduro remains in power with the support of the leadership of the armed forces. In January, he announced that he would increase production to 2 million barrels per day. But tougher sanctions, combined with a sharp drop in oil prices, are likely to only lead to a decrease in production, which will put strong pressure on the political system.

Moscow probably forgot that the sharp drop in oil prices called into question the future of its ally in South America.

The Financial Times suggests that Venezuela’s support from Russia and China will also weaken: Moscow will need to cope with its own budget deficit, while Beijing has recently been struggling with the coronavirus and trying to negotiate a levy with Washington.
  • Used photos: kremlin.ru
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  1. 123 Offline 123
    123 (123) 10 March 2020 20: 22
    +4
    If the Financial Times is worried about the welfare of Venezuelans, you should turn to your government, 14 tons of gold settled in the banks of England. Could and return. Hypocritical bastards. sad
    1. Arkharov Offline Arkharov
      Arkharov (Grigory Arkharov) 11 March 2020 06: 20
      -3
      So that Madura "sleeps" to the end?
    2. g1washntwn Offline g1washntwn
      g1washntwn (George Washington) 11 March 2020 12: 59
      0
      Prices bring down the Saudis. It was they who bent Wishlist, which are not beneficial to anyone and they themselves were the first to jump out of the agreement.
  2. Arkharov Offline Arkharov
    Arkharov (Grigory Arkharov) 11 March 2020 06: 19
    -1
    Think about Venezuela, there is nothing you can help. I would have guessed about myself first.
    1. 123 Offline 123
      123 (123) 11 March 2020 11: 17
      +2
      Think about Venezuela, there is nothing you can help. I would have guessed about myself first.

      You probably won’t believe it, but I really didn’t guess. yes I believe that my humble person has nothing to do with Venezuela. request You are an incorrigible egoist. laughing The conversation is about Venezuela, but think about yourself? What do you have to do with it? With all due respect, I just can’t connect the logical chain between the names of Maduro and Arkharov, maybe explain?
      Do not worry about Maduro, better follow the fate of your pet in the neighborhood. yes
      1. Arkharov Offline Arkharov
        Arkharov (Grigory Arkharov) 11 March 2020 11: 43
        -2
        Actually, I didn’t write this specific post to you, but to the article as a whole. Do you think the whole earth revolves around you?
        1. 123 Offline 123
          123 (123) 11 March 2020 11: 54
          +1
          Actually, I didn’t write this specific post to you, but to the article as a whole.

          Well, forgive me generously, maybe the error happened, my notification turned on. Next time try to clarify that you are not writing to me yes

          Do you think the whole earth revolves around you?

          No I do not think so. request You’ll probably laugh, but I don’t think it’s flat either. winked