Venezuela Reaffirms Its Sovereign Rights Over the Essequibo

Venezuela's President Nicolas Maduro Thursday signed a presidential decree setting the country's maritime and territorial borders in order to protect national jurisdiction rights, especially on the disputed Essequibo territory. 

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He informed that the United Nations Secretary-General Antonio Guterres was notified about his government rejections over the recent International Court of Justice (ICJ) ruling on the territorial dispute.

Maduro noted that transnational oil companies laid behind ICJ's decision in order to take over the Atlantic coast to steal the oil that belongs to his nation.

A call to settle the dispute amicably with Guyana's government was also reiterated, while public powers were ordered to support a national consultation process to instruct citizens. 

Last December, the ICJ declared itself competent to hear the dispute over the Essequibo territory following a complaint filed by Guyana's which justified its claim on the 1899 Paris Arbitration Award.

Venezuela's government recalled that negotiations should be undertaken under the 1966 Geneva Agreement guidelines which recommend a practical and satisfactory solution for both nations. 

The tensions over the Essequibo began in 1899 when the United Kingdom handed over that part of the Caribbean nation's territory to Guyana.

"The dispute has no unilateral solution... We have to sit down and achieve a mutually satisfactory solution for the parties," Foreign Affairs Ministry Jorge Arreaza pointed out.