7/4, 1:53 PM (Source: TeleTrader)
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Moscow, Caracas to expand oil cooperation

Russia and Venezuela will expand their oil sector cooperation and work on different ways to best circumvent Western sanctions against Moscow, Venezuelan Foreign Minister Carlos Faria said on Monday after a joint press conference with his Russian counterpart, Sergey Lavrov.

In addition to the oil sector cooperation, the two sides have agreed on working on pharmaceuticals and military-technical cooperation, the Russian minister noted, adding that the US "plans to undermine" the Venezuelan economy will not be carried out as Moscow is ready to support Caracas.

At the same time, the Venezuelan minister expressed his support for Russia and condemned sanctions against Kremlin, following yesterday's conversation between Venezuelan President Nicolas Maduro and Russian President Vladimir Putin.

Baha Breaking News (BBN) / MM