Venezuela and Russia sign 10-year Strategic Partnership Treaty to strengthen bilateral cooperation

President Nicolas Maduro signed into law the Treaty of Strategic Partnership and Cooperation between Venezuela and the Russian Federation during a high-level meeting with Russian Ambassador to Venezuela Sergey Melik-Bagdasarov at the Miraflores Palace. This is reported by Venezolana de Televisión, a partner of TV BRICS.

Following the unanimous approval by the National Assembly, the Venezuelan head of state underscored the importance of the agreement as a foundation for the next decade of collaboration.

“I thank the National Assembly for its debate and approval of this treaty – on the birthday of President Vladimir Putin,” said Maduro.

The 10-year treaty, which allows for automatic five-year renewals, sets a framework for broad cooperation in strategic sectors and aims to reinforce the institutional architecture of the Venezuela-Russia partnership.

Among its main priorities are:

• The creation of a financial infrastructure to facilitate trade;

• The promotion of joint investments in key sectors such as energy, gas, and mining;

• Enhanced coordination in multilateral forums.

According to the source, the ratification of the treaty marks a new phase in bilateral relations, focused on mutual development, technological cooperation, and sustainable resource management.

Photo: Oleksii Liskonih / iStock