February 8, 2019

Aggravation of the Crisis in Venezuela

The Internal Dynamics and External Influences

Kateryna Vakarchuk

For the political leadership of Venezuela, led by President Nicolas Maduro, the beginning of 2019 can be considered inevitable, life-changing and to some extent fatal. All the world's media keep writing about the events that are happening there, although they had little interest in the past. What happened there? And why do we, in Ukraine, often mention that distant Latin American country, where our geopolitical interests are not represented at the proper level?

Venezuelan events have fallen into the top news of the whole world and remain the main topic for major newsmakers. To date, there are many more questions about those events than answers. A country with huge oil reserves (18 % of proven world reserves, the 7th in the OPEC) found itself in isolation and on the verge of a humanitarian catastrophe, having deeply plunged into hyperinflation.

It is difficult to predict further developments in Venezuela. No one dares to tell how the negotiations between the parties will end, since much “remains behind the scenes”. The main thing is to avoid bloodshed. And to factor in Russia, which has invested millions and millions of dollars there and will not agree with their loss. As for the Ukrainian position regarding the events in Venezuela, the Ukrainian Foreign Ministry expressed support for Juan Guaido. But Ukraine has been assigned an observer role, since during the last decade we have not been able to develop our economic ties sufficiently to solidify in Latin America.

The article is available in Ukrainian