Reuters
Taylor Valley, National Interest: Why Venezuela Needs Russia
Moscow hopes Caracas will pay off its debts and be an enduring geostrategic location for Russian influence.
As Venezuela descends deeper into crisis and America and European Union continue to condemn the dictatorship, Russia remains firmly in the pro-Nicolás Maduro camp. With inflation at over 300,000 percent and domestic instability at its breaking point, Venezuela is not a likely bet for international investors. Despite grim prospects, the Russo-Venezuelan partnership is, for some reason, enduring. This is because, for Russia, Venezuela is not a risky investment but a strategic ongoing deal with the promise of long-term gains.
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WNU editor: I have been hearing for years the same line from Kremlin officials and Russian foreign policy experts that Venezuela will recover, and that everything will improve. But with each passing year the situation worsens, and Venezuela's debt to Russia grows .... a debt that is now only second to what Venezuela owes China. For Venezuela to recover it will need to reverse years of socialist economic policies and government intervention .... and to promote entrepreneurs, businesses, and foreign investment. But it is not going to happen with Venezuelan President Maduro and his gang. They are committed with the current system, and they are more than happy to mortgage their country's future to Russia and China knowing too well that they can never pay them back. As to when will the Kremlin figure this all out. My money is on the next Russian President
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