Venezuela is to begin supplying several CARICOM countries with oil

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Browne and Nicholas Maduro

Venezuela is to begin supplying several CARICOM countries with oil as regional heads have agreed to resume the PetroCaribe agreement.

Prime Minister of St. Vincent and the Grenadines, Dr. Ralph Gonsalves, says CARICOM heads have called for a removal of US sanctions that brought an end to the previous agreement.

Dr. Gonsalves says CARICOM countries are being treated unfairly because while they suffer due to the sanctions, the US has allowed Venezuela to provide oil to European countries in need due to the global energy crisis.

For this reason, Dr. Gonsalves said Venezuela and CARICOM have decided to resume the PetroCaribe agreement – “all things being equal with a 35% off the top, upfront”.

He said the CARICOM heads will not be approaching the US for the removal of sanctions on Venezuela in a combative manner.

Dr. Gonsalves was speaking Tuesday evening at the closing ceremony of CARICOM’s 43rd Heads of Government meeting in Suriname.

Launched in 2005, the PetroCaribe Arrangement allowed participating countries to purchase oil at market value, paying a percentage of the cost upfront with the balance paid over 25 years at one per cent interest.

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10 COMMENTS

  1. Prices of local mango gone up because of the war in Russia and Ukraine . Let see if the price will drop for various goods since Venezuela is supplying oil now.

    • Guys a could certainly supply oil, at the market price since the actual production of oil there is done by mostly US based oil companies. On top of that, crude oil is absolutely useless to us, since we don’t have a refinery.
      We need petroleum and diesel along with an increasing need for natural gas.

  3. I am old now and ready to die. What a wasted life after all the education. It is that education that help me to deduce that moral arguments are frivolous to my interest unless it is enforced by the threat of military force and or the ability to interupt international trade… for which I have no capability.
    That capability rest with those that suppress the moral arguments… my only weapon.
    God knows the leaders of Caricom need to be re-educated. None of them is a Nelson Mandela, a Vere Cornwall Bird or any leader who gave their all for their people… and will surely be forgotten!

  4. They can’t even come to a unanimous decision because of their self interest. It is said that brothers who fight each other to the death… strangers inherit their father’s possession.

    • @war….your vomit is as dumb as they come yes vomit…Do you know when that photo was taken?

  6. Venezuela, only supply oil to the one country that stood by you – St. Vincent. The others, let them buy it at elevated prices, just like ebry baddy else. Why should Venezuela be the only practicing ‘Christian’?

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