Venezuela, the holder of the world’s largest proven oil reserves, has been suffering due to the low oil prices.
Venezuela’s economy, which officials admitted last week was officially in recession, relies heavily on oil exports. President Nicolas Maduro is now turning to allies for direct financial support, and seeks cooperation from fellow oil producers to cut production to counter plummeting prices.
What kind of deals should be expected between Venezuela and China? And will other countries such as Russia be willing to come to the aid of Russia? Anadolu News Agency from Turkey spoke with Sijbren de Jong on this issue. The full interview can be read here.