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Guyana and Venezuela Presidents Agree to Not Use Force in Esequibo Dispute
Guyana and Venezuela agreed Thursday to not use force in a long-term dispute over oil rich Esequibo after a meeting of their presidents in Saint Vincent and the Grenadines.
- The two countries said in a joint statement that they "will not threaten or use force against one another in any circumstances" and "will refrain, whether by words or deeds, from escalating any conflict or disagreement."
- Venezuela backed a referendum this month laying claim to the region, recognized as part of Guyana.
- Venezuelan President Nicolas Maduro further intensified escalations by saying he would authorize oil exploration in the region.
- "It has been worth it to defend the truth of Venezuela," Maduro said after the meet.
- The dispute will be resolved in accordance with international law according to a post meet statement.
- The next meet will be in Brazil within the next three months.
- Guyanese President Irfaan Ali has reiterated the dispute must be resolved through the ICJ, which Venezuela does not recognize.
- "Guyana is not seeking war, but Guyana reserves the right to work with all our partners to ensure the defense of our country," Ali said. "Both parties committed to ensuring the region remains a zone of peace."
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Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.