Economy

Venezuela annexes oil-rich parts of Guyana

Centuries Old Territorial Dispute Flames Up

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Amsterdam, 22 March 2024 — Venezuela’s National Assembly Thursday passed a law creating a new region in the oil-rich Essequibo territory under Guyanese control since the late 1800s on which Caracas claims sovereignty.

The Venezuelan Parliament unanimously approved the creation of the state of Guayana Esequiba, which is to be added to the country’s official maps.

The law establishes that a Governor for the state of Guayana Esequiba needs to be elected but until that happens Caracas will appoint the authorities for the region where mostly indigenous communities live.

The new legislation also stated that anyone having publicly favored the position of Guyana regarding Venezuela’s claims would not be eligible for elective offices.

In addition, fines of up to € 100,000 will be imposed on those who publish or distribute maps of Venezuela that do not show this disputed area as an integral part of its territory while anyone who refuses to provide the State with information considered historical or necessary for the defense of this territory will be fined up to € 10,000.

According to the National Assembly, the new 22-article law complies with the mandate expressed last December 3, when Venezuela held a unilateral referendum in which almost all the participants approved the annexation of the disputed area.

Thursday’s text will be sent to the Constitutional Chamber of the Supreme Court for a ruling on the constitutionality of its organic character, Assembly Speaker Jorge Rodríguez explained.

“This National Assembly vindicates the right of the Venezuelan people to defend our territory with an approved Law,” Deputy Diosdado Cabello noted.

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