Cooperation between Russia and Venezuela in the oil and gas industry under the rule of H. Ch'avez and N. Maduro

The relations between Russia and Venezuela on energy, the history of their cooperation and its development are discussed, as energy cooperation is one of the key activities for both countries. This issue is of high relevance to them in the context of international relations. Therefore, the development of mutual relations of the states in different periods is elaborated. The effective oil policy pursued by H. Chávez during his presidency and, at the same time, a significant dependence of the economy on the external environment are noted. Besides, the author reviewed the negative impact of the United States on the economic and political processes in Venezuela, especially since the coming to power of President N. Maduro, who continued President Chavez’s patriotic course, focused on national interests and the social sphere, and the choice of the Russian Federation as a strategic partner. The study demonstrates the positive role of the Russian Federation in supporting Venezuela’s economy through the fuel sector and increasing the impact of cooperation among the countries that own the largest hydrocarbon reserves on the world energy market. This fact helps to reveal good prospects for the economic development of both countries.