November 5, 2025

Given the threat of imminent U.S. military attack on Venezuela, Colombia and other sovereign countries in Latin America and the Caribbean, The International Action Center is increasing its coverage from that region. This article by junge Welt correspondent Volker Hermsdorf was published in the Nov. 1 issue of junge Welt.

Translation: John Catalinotto

Moscow and Caracas deepened their strategic partnership at the beginning of the week with the first economic forum in this bilateral framework. The two-day meeting at La Carlota Air Base in the Venezuelan capital brought together more than 370 companies from both countries, which developed new projects in nine key sectors — from energy and agriculture to technology, finance and artificial intelligence.

The event coincided with the formal ratification by Russian President Vladimir Putin of the “Treaty on Strategic Partnership and Cooperation,” which brought into force the agreement previously signed by Venezuelan President Nicolás Maduro. The agreement commits both countries to political, economic and technological cooperation for the coming decade.

Geopolitical significance

“This treaty opens up new avenues for investment and development at the highest level,” said Venezuelan Vice President Delcy Rodríguez at the opening of the largest economic event in years. The aim of the forum is to usher in “a new stage of economic exchange and technological cooperation,” she said.

Rodríguez also referred to the geopolitical significance of the cooperation. Together, Russia and Venezuela have around 24% of the world’s energy reserves, making them the global leaders in energy supply.

Moscow’s ambassador, Sergey Melik-Bagdasarov, described the meeting as a “clear signal” from partners “who are under considerable political and economic pressure from Western countries that have exhausted their opportunities for fair competition on the world market.” Sanctions against the Venezuelan oil industry or Russian energy companies are thus “a fundamental mistake by Western countries” that miss their mark.

Despite the measures, Russia is growing its gross domestic product by over 4% annually and, according to estimates by the United Nations Economic Commission for Latin America and the Caribbean (CEPAL), Venezuela is expected to grow by up to 8.5% in 2025.

The forum in Caracas offered companies from both countries the opportunity for direct negotiations. In what are called Ruedas de Negocios, projects in the fields of energy, mechanical engineering, agriculture, logistics and information technology were presented.

Russian companies showcased products and technologies ranging from civilian helicopters and medical devices to energy systems. Venezuela, in turn, promoted investment opportunities and local production capacities.

In addition to economic talks, the program also focused on cultural exchanges: an exhibition of digital art and an e-sports tournament between Russian and Venezuelan teams complemented the official program. According to the organizers, such formats are intended to promote exchange at all levels and give the strategic partnership a lively profile.

Opening up new fields

The basis for this is the agreement signed on May 7 in Moscow at a meeting between the heads of state of both countries, which officially came into force at the beginning of the last week of October.

The treaty, which comprises 25 articles and a preamble, is intended not only to deepen cooperation in traditional areas, but also to open up new fields. Its key points include the establishment of an independent financial infrastructure to free trade relations from Western-dominated payment systems; joint investment projects in the oil, gas and mining sectors; and a coordinated energy policy in international organizations such as OPEC and the Gas Exporting Countries Forum.

In addition, both countries commit to regular political dialogue and are committed to promoting a multipolar world order based on sovereignty and mutual respect. At the forum in Caracas, Russia and Venezuela presented themselves as partners who — outside of Western spheres of influence — are committed to cooperation, technological independence and the establishment of an alternative, multipolar economic order.