Venezuelan opposition leader, Juan Guaido

Venezuela’s Guaido proposes investigation against Cuban oil resale

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Venezuelan opposition leader, Juan Guaido proposed launching an investigation against the oil supply made to Cuba, which Guaido believed was put for resale in international market. Guaido, who is recognised by US and several other counties as the rightful president of the Latin American country, delegated the investigation task to Carlos Vecchio.

Guaido, who appointed Vecchio as the Venezuelan envoy to the US, pointed out that the reason Venezuelan President Nicolas Maduro’s government was “getting nothing back” out of the oil shipments sent to Cuba, raised suspicion and need for proper investigation. If Cuba was found reselling Venezuelan oil, it would probably lead to sanctions on Havana for breach of US sanctions on Venezuelan oil export.

The US administration imposed sanction against oil exports from Venezuela, the OPEC-member, in order to pressurise Maduro to resign from the position. Earlier this year, the Trump administration launched a “maximum pressure” campaign to oust Maduro, for running a narcoterrorism in the South America country. The US authorities even offered a reward money of $15 million for his arrest.

Maduro is supported by Cuban government, who earlier this year entered an agreement to revive PetroCaribe during the first half of 2020. During the agreement signed in January this year, Maduro urged the regional members to “support the planning and execution” of PetroCaribe’s renewal “to recover the sovereignty, independence and development of our Caribbean countries.” PetroCaribe was formed in 2005 by Maduro’s late guide/leader Hugo Chavez to develop regional economic cooperation by supplying subsidized oil to around 16 Caribbean and Central American countries.

According to data revealed by Refinitiv Eikon and state-owned oil company Petroleos de Venezuela, known as PDVSA, Maduro supplied 14.1 million barrels of oil to Cuba between January and June. Apparently Cuba pays back Venezuela in terms of experts and intelligence in exchange of oil. Hence the resale claims of oil by Cuba, if true, would help Maduro in holding his ground amidst the tumultuous times.

Vecchio, accusing Cuban administration of reselling the oil, said, “Cuba doesn’t need that amount of oil. Probably part of that will be resold.” Vecchio added that the oil sent to Havana, should instead be give to international humanitarian organisations including United Nations and Red Cress. He told reporters, “We need to give those resources to international organisations to provide humanitarian assistance in an impartial manner.”

Read more related articles about Venezula : https://www.diplomacy24.com/category/venezuela/

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