The President of Venezuela, Nicolás Maduro, signed the Law of the Treaty of Strategic Partnership and Cooperation with the Russian Federation, with the aim of consolidating bilateral relations between the two nations.

The signing took place at the Miraflores Palace, during a meeting with the Russian ambassador in Caracas, Sergei Melik-Bagdasarov. “I am going to sign the Law Approving the Treaty (…) as of today, when it comes out in the official gazette, it is the law of the republic,” said President Maduro.

The presidential signing formally consolidates the alliance between Caracas and Moscow, strengthening the high-level relations that exist between Caracas and Moscow and the multipolar position of both nations.

The National Assembly unanimously approved on September 30, the establishment of a high-level intergovernmental commission to coordinate the strategic partnership.

The Venezuelan Head of State highlighted at that time the importance of the binational cooperation agreement for the next ten years, and renewable every five.

The treaty, signed on May 7 in Moscow by Presidents Nicolas Maduro and Vladimir Putin, covers the financial infrastructure to facilitate trade without dependence on Western systems, covers joint investments in sectors such as oil, gas and mining.

The agreement between the Kremlin and Miraflores strengthens cooperation in global security, addressing the fight against terrorism, drug trafficking and money laundering.

In the economic sphere, it supports Venezuela’s aspiration to join the BRICS, consolidating its position on the international stage.

It also coordinates efforts in international energy sector scenarios such as the Organization of the Petroleum Exporting Countries (OPEC) and the Gas Exporting Countries Forum

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