Russian President Vladimir Putin and controversial Venezuelan President Nicolas Maduro met in Moscow on Wednesday and signed a strategic partnership treaty, strengthening the relationship between the two countries.
The agreement focuses on a variety of issues, including cooperation in global energy markets, security, counterterrorism efforts, and a commitment from both countries to combat extremism, according to reports.
Both countries are known for their vast oil reserves and are frequently identified as petrostates, given their reliance on fossil fuels. This agreement will help fortify an economic partnership, a vital alliance given that Russia and Venezuela are currently facing sanctions from the international community. Reuters reported that the deal stipulates joint efforts to pursue energy opportunities by developing new oil and gas fields.
“The parties will promote the balanced and stable long-term development of global energy markets without the use of unfair competition instruments,” read the agreement.
Yuri Ushakov, Putin’s adviser on foreign policy matters, touted the agreement’s significance in the current tense geopolitical reality of international relations.
“This agreement is a testament to our commitment to strengthening bilateral relations and enhancing cooperation in key areas such as economics, investment, energy, mineral extraction, transport, telecommunications, healthcare, and culture,” said Ushakov.
Since June 2022, this is the fourth strategic alliance Russia has made with a country recently, including multiple countries hostile to the U.S. This includes China, Iran, and North Korea.
Most recently, in June 2024, Putin and North Korean leader Kim Jong Un signed a partnership agreement that focused on the two countries’ security needs and “cooperation in political, trade, investment, cultural and humanitarian fields.” Both leaders celebrated the agreement and its significance. Putin called it a “breakthrough document,” while Kim called it the “strongest ever treaty” between Russia and North Korea.
As for yesterday’s alliance announcement, Maduro and Putin also committed to promoting cooperative opportunities in the world’s energy sectors, including “initiatives within OPEC+ and the Gas Exporting Countries Forum,” Reuters reported.
Russian spokesman Dmitry Peskov categorized the agreement between the two countries as a “weighty, substantial, and very important framework document.”
“Thanks to this treaty, we’ll see how relations flourish between a great Russia, a key power among humanity today, and Venezuela in the coming years,” Maduro said.
Maduro will also be in attendance for Moscow’s celebration on May 9, 2025, to commemorate the 80th anniversary of the end of their “Great Patriotic War,” more commonly known as World War II.