Venezuelan President Nicolas Maduro held meetings in Saudi Arabia on Monday, his first visit to the Gulf country since 2015, further cementing the South American country’s ties to the region despite opposition from Washington.
Maduro arrived in Jeddah early Monday morning local time and was received by Prince Badr bin Sultan, deputy governor of the Mecca province, as well as Saudi national security adviser and Minister of State Musaed Al-Aiban, according to the official Saudi Press Agency.
#AHORA | Pdte. @NicolasMaduro arriba al Aeropuerto Internacional King Abdulaziz, ubicado en Yidda, segunda ciudad más importante del Reino de Arabia Saudita, a propósito de una agenda de trabajo que apunta a reforzar las alianzas políticas, diplomáticas y energéticas. pic.twitter.com/jH94TZhFIN
— Prensa Presidencial (@PresidencialVen) June 4, 2023
Maduro was scheduled to hold meetings with Saudi King Salman bin Abdulaziz as well as Crown Prince Mohammed bin Salman, known by his initials MBS, on Monday, according to the official Venezolana de Television.
Maduro tweeted upon his arrival that the purpose of the visit is to strengthen bilateral relations.
Later on Monday, the Venezuelan Ministry of Communication and Information published a Spanish-language statement praising Saudi-Venezuelan cooperation via the OPEC+ alliance.
“OPEC+ will remain united and disciplined to regulate the petroleum market according to humanity’s needs,” read the statement.
Saudi Arabia, the United Arab Emirates, Venezuela and several other countries are members of the Organization of the Petroleum Exporting Countries, or OPEC. OPEC+ includes the 13 OPEC members and other oil producers such as Russia, Malaysia and Mexico.
Saudi Foreign Minister Prince Faisal bin Farhan also held a meeting with his Venezuelan counterpart Yvan Eduardo Gil Pinto on Monday. The two discussed bilateral cooperation, unspecified international issues and sustainable development, according to a tweet from the Saudi Ministry of Foreign Affairs.
Maduro came to Saudi Arabia via Turkey, where he attended the inauguration of Turkish President Recep Tayyip Erdogan.
Maduro previously visited Saudi Arabia in 2015 for the Arab League summit. This current visit is on the eve of US Secretary of State Antony Blinken’s trip to the kingdom.
Why it matters: Maduro’s visit constitutes the latest example of Saudi Arabia pursuing good relations with states that have difficult relations with the United States. In March, Saudi Arabia agreed to resume diplomatic relations with Iran in a deal brokered by China. In April, the kingdom resumed relations with Syria. Next week, Saudi Arabia will host a China business conference.
The US maintains a variety of sanctions on Venezuela related to corruption, drug trafficking, human rights abuses, and alleged Venezuelan support for Lebanon’s Hezbollah. This includes some sanctions on financial transactions with the Venezuelan government. There are also sanctions on Venezuela’s state oil company, PDVSA, according to a November report from the US Congressional Research Service.
The Biden administration eased some of the oil-related sanctions last year in order to encourage the Maduro government to continue negotiating with the opposition.
The Venezuelan oil industry has fallen into disarray in recent years amid the political and economic crisis in the country.
The trip also demonstrates Venezuela’s strengthening relations with Middle Eastern states. Iran and Venezuela have long worked together on energy matters, and are now expanding their cooperation to other areas. In January, Venezuela received 1,000 vehicles from the Iranian automobile firm Saipa. The following month, Iranian Foreign Minister Hossein Amir-Abdollahian visited Venezuela as part of a regional tour.
Maduro also visited Turkey last year and discussed bilateral cooperation with Erdogan.
In terms of Saudi-Venezuela relations, the two countries maintain respective embassies. They do not have significant trade relations. In 2021, Saudi Arabia’s exports to Venezuela amounted to just $1.91 million, while Venezuela exported only $508,000 to the kingdom, according to the US-based Observatory of Economic Complexity.
Know more: Following the OPEC+ meeting on Sunday, Saudi Arabia pledged to cut one million barrels a day of oil from its production starting in July. The move placated Russia and the UAE. Russia was not compelled to further cut production, while the UAE received a higher production quota for 2024, according to Bloomberg.