Venezuela
Background
Venezuela, officially the Bolivarian Republic of Venezuela, is a country on the northern coast of South America with territory on the mainland and numerous islands and islets in the Caribbean Sea. It borders the Caribbean Sea and the Atlantic Ocean to the north, Colombia to the west, Brazil to the south, Trinidad and Tobago to the northeast, and Guyana to the east. Its area is 912,050 square kilometers, and its capital and largest urban agglomeration is Caracas. The country is highly urbanized, with most of the population concentrated in northern cities and the capital.
In international affairs, Venezuela is significant because of its large energy endowment and its role in regional politics. It has the world’s largest known oil reserves and has long been one of the world’s leading oil exporters, making it relevant to global oil markets and external diplomatic calculations. Recent Russian discussions have referred to Venezuela in connection with broader oil market conditions, underscoring its continued importance in energy-related foreign policy. The country is also commonly discussed in relation to sanctions, migration, and wider debates over political stability in Latin America.
The territory was colonized by Spain in 1522, after resistance from indigenous peoples, and declared independence in 1811 before becoming part of Gran Colombia and later separating as a sovereign state in 1830. The 20th and 21st centuries have been marked by shifts from military rule to democratic government, followed by political crisis under the Chávez and Maduro administrations and the adoption of the 1999 Constitution. In recent years, disputed presidential elections, protests, economic collapse, and international condemnation have shaped its domestic and foreign standing, while the country has faced hyperinflation, shortages, and a large refugee outflow. In January 2026, after the United States captured President Nicolás Maduro, Vice President Delcy Rodríguez was sworn in as acting president.
Timeline
Venezuela was discussed as a factor affecting global oil markets in the call between Vladimir Putin and Donald Trump.
Remarks by Yuri Ushakov, Assistant to the President of Russia, Following a Telephone Conversation Between Vladimir Putin and U.S. President Donald Trump
Documents
Remarks by Yuri Ushakov, Assistant to the President of Russia, Following a Telephone Conversation Between Vladimir Putin and U.S. President Donald Trump
Putin and Trump held an hour-long call covering the Iran conflict, Ukraine ceasefire prospects, and Venezuela's impact on global oil markets, their first since December 2025.
Meeting of the Supreme State Council of the Union State
Putin and Lukashenko held the Supreme State Council of the Union State in Moscow, signing a package of documents including directives on mutual legal protection, cross-border rail links, and a new Standardisation and Quality Committee, marking 30 years of Russian-Belarusian integration.