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Russia and Venezuela Agree to Greater Oil Co-operation

OIL

Russia and Venezuela have agreed to increase the pace and volume of cooperation in the field of oil production according to Russian Foreign Minister Sergey Lavrov following his meet with Venezuelan Foreign Minister Yvan Gil Pinto this week.

  • It comes as expectations that the US will extend energy sanctions for Venezuela past April 18 appear increasingly thin, pushing Venezuela back to greater co-operation with sanctioned allies, Russia and Iran.
  • "We are ready to share the experience that we have accumulated in recent years with our Venezuelan friends," Lavrov said.

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