Russia and Venezuela Sign Agreement to Counteract Sanctions


Both countries will create financial and logistical mechanisms immune to external interference.

On Tuesday, Foreign Ministers Sergei Lavrov (Russia) and Yvan Gil (Venezuela) signed a Memorandum of Understanding (MoU) to counter unilateral coercive measures.


Get to Know the Neoliberal Plan of the Venezuelan Right-Winger Oposition

“Instructed by President Nicolas Maduro, and within the framework of the BRICS+ ministerial meeting, we signed together with the Foreign Minister of the Russian Federation, Sergei Lavrov, a memorandum of understanding on cooperation to counteract unilateral coercive measures,” the Bolivarian diplomat wrote on his social network account X.

“This will allow us to move forward towards the creation of financial and logistical mechanisms immune to external interference and strengthen our cooperation in areas such as agriculture, medicine, energy, and advanced technologies,” he added.

“We are glad to see you and your delegation in Nizhny Novgorod. We support Venezuela’s interest in the BRICS,” Lavrov told his Venezuelan colleague.


Following U.S sanctions on Russia over the Ukraine war and its reimposition of sanctions on Venezuela’s oil and gas industry in April, both countries signed an agreement to work together at the BRICS meeting of Foreign…

— Mario Nawfal (@MarioNawfal) June 11, 2024

On Monday, Gil participated in the meeting of foreign ministers of the countries linked to the BRICS, an economic cooperation agreement initially made up of Brazil, Russia, India, China and South Africa. During that meeting, the Bolivarian diplomat confirmed that Venezuela is interested in joining the BRICS group of emerging economies as a full member.

“At this meeting of the bloc, Venezuela attends with the purpose of accelerating its entry as a full member, considering its energy strengths and its strategic location on the American continent,” Venezuelan diplomacy said.

Taking advantage of the BRICS meeting, Gil held talks with foreign ministers Bruno Rodriguez (Cuba), Naledi Pandor (South Africa), and Sergei Aleinik (Belorussia). The Bolivarian diplomat also held meetings with representatives of India and the United Arab Emirates.

#FromTheSouth News Bits | Russia: The 27th International Economic Forum concluded. Its main mission was the search for economic measures to maintain the global balance of power and build a multipolar international system. Representatives from 136 countries attended the forum.

— teleSUR English (@telesurenglish) June 10, 2024

Source: Foreign Affairs Ministry

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