Putin wins, the longer Venezuela’s Maduro hangs on

CBC News
Maduro Putin James Alexander Michie

Some analysts believe that if President Nicolas Maduro is cast out in Venezuela, it would be humiliating for Russian President Vladimir Putin, a long-time ally. (Yuri Kadobnov/Associated Press)

Venezuela during the last 20 years, has been divided by two political parties, chavism, and the opposition. Likewise, during these 20 years a party and political ideology, led by Hugo Chávez until the moment of his death, has remained in power. After that, the leader of Chavismo has been Nicolas Maduro, who took office for his second term this month.

The chavism has undoubtedly led Venezuela to bankruptcy, due to bad policies and lousy economic models. It is difficult to understand how a country rich in oil and other minerals, is now completely bankrupt. Added to this, the government has only known how to do well to steal the country and fill it with impressive debts.

However, the young Venezuelan leader, Juan Guaido, has restored hope to the South American nation. This after being sworn in on January 23, 2019, in an open town hall as president in charge of Venezuela. After that, the United States and Canada recognized him as the president in charge of Venezuela. Likewise, he has already been recognized by various nations. Of course, he has been recognized by Venezuelans who have recognized him as its president and are also offering their support.

Nations involved

As already mentioned, there are nations that have recognized Juan Guaido as the president in charge of Venezuela. However, there are nations that have not recognized it while there are others that remain in a neutral position. Undoubtedly, there are nations that are already involved in this political dispute. One could specifically mention China and Russia.

Russia and China are Maduro’s main international political and financial backers. But while China’s interests in the oil-rich South American nation are largely commercial, for Russia, the prestige of the Kremlin is at stake.

According to an independent Russian foreign policy analyst, Vladimir Froloy, “This could go on for months”, and likewise “If Maduro stays for a prolonged period of time and the United States does nothing, Maduro and Russia win”.

The Russian state media are full of stories that criticize the United States for attempting a “coup” to “overthrow” Maduro. However, there is also much discussion in Russia about the limited options of the country to help its ally.

It should be noted that Russia can have up to $ 25 billion of US dollars in Venezuela, mainly in oil and gold. While the Venezuelan debt with China could be up to $ 50 billion in loan agreements for oil in the last decade.

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Source: Chris Brown | CBC News

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