Venezuela calls on French companies to explore for oil

Venezuelan President Nicolas Maduro on Monday night called on French companies to go to his country, following France’s announcement that it would seek to “diversify its supplies”, looking at possibilities in Iran and Venezuela to halt price rises. of fuel due to the war in Ukraine.

“President Macron! Venezuela is ready to welcome all French companies that would like to come to produce oil and gas,” the Venezuelan president told public television.

On the sidelines of the G7 summit in Elmau, Bavaria, in southern Germany, French President Emanuel Macron spoke of “resources elsewhere” that “must be exploited”, referring to Iran and Venezuela, estimating that “Venezuelan oil will must be able to be placed on the market “.

Both oil-producing countries to which Mr Macron referred are subject to US sanctions.

The United States and Venezuela cut off diplomatic relations in 2019, following the re-election of President Maduro for a second term in 2018, following an election process from which the opposition abstained and Washington did not recognize.

In a bid to oust Maduro, the US government has recognized opposition leader Juan Guido as interim president and imposed sanctions on Caracas.

Among the measures it has taken since April 2019 is the embargo that prevents Venezuela from exporting its crude oil – from which 96% of the country’s revenue comes – to the US market.

Since then, Mr Maduro’s government has received significant aid from Russia to continue exporting crude oil, despite Washington’s punitive measures.

Following the example of the United States, France had also recognized Mr. Guido as the legitimate interim president of Venezuela, sparking outrage in Caracas. But the political weight of the opposition leader has dropped significantly in recent times.

SOURCE: AMPE