During the Moscow Energy Week, an international energy forum, the Vice President of Venezuela, Delcy Rodríguez, highlighted the geopolitical reconfiguration at world level and pointed out the key role to be played by the Global South in the face of the decline of Western hegemony. teleSUR
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00:00to other topics as the Russian Energy Week Forum 2024 is also underway in Moscow.
00:06From there, the Vice President of Venezuela and Minister of Oil,
00:09Delsi Rodriguez, addressed the challenges of the oil industry of the South American country
00:14that it faces due to international sanctions and the coercive measures imposed by the United States
00:20and the role of global South nations in changing the future
00:24of the resource distribution worldwide. Let's listen.
00:30I brought you here this year a chart. This is the global production. 26% of the global
00:50production is currently illegally sanctioned, unilaterally sanctioned, violating international
00:56law. Without a doubt, the sanctions become economic aggressions and create problems in
01:02the energy market. That 26% of the world oil production is sanctioned today means that there
01:09is a barrel that is at a discount price, that there is a barrel that is not being invested on.
01:16It means that it's a barrel that is causing a disturbance in economic balance.
01:21And now, I have to talk a lot about it because the system of economic aggression in the world,
01:32which is marked by unilateral coercive measures, they intend to co-opt, they intend to obstruct
01:37in order to impose a lower vision from the Western hegemonic powers. And the moral
01:42determination not to secure, the moral determination to move forward, to continue
01:45participating is impossible. And we said this last year in this energy week on the 6th,
01:52it is impossible for Venezuela to be excluded from the international energy market as it is
01:56a country with the largest reserves. It has the largest oil reserves worldwide, which represent
02:00today 19%. How are you going to exclude Venezuela? Today, it is impossible to exclude Venezuela in
02:06the energy transition. In the case of gas, we also have one of the largest gas reserves in
02:10the planet. That West's rationality has proven to be a double standard. It's the double standard
02:20as the West is pretending to be an actor like the world's owners. And concurrently,
02:25the West takes advantage of the sovereign resources, the natural resources of the
02:29producing countries in such a way that the battle that Russia is waging today, which
02:34results in the fact that Russia today has been able to relocate its products to Asia. And here,
02:39there are some paramount data that President Putin said and Vice President
02:44Nova further referred to it. And it is how the demand is going to change in the long term.
02:49By 2040, by 2050, where the main role will be played by the global South and not by the West,
02:56where the demand, the major demand will be concentrated in India, in China, in Africa,
03:00the global South will be playing a predominant role as the BRICS plus space plays it today. As
03:07the BRICS maintain a decisive participation in the global economic growth, as the BRICS today
03:12are a fundamental engine in the international economy and how it is already projecting the
03:19year 2040 and 2050. That is to say, today, we sanction countries are experiencing a geopolitical
03:27reconfiguration of Venezuela's oil and Venezuela's energy reserves have been considered a geostrategic
03:34target of the Pentagon. If you listen to the Pentagon's voice for the US hemisphere,
03:42well, for the North American hemisphere, you will realize that a link security,
03:47the security of the hemisphere is directly linked to economic security and to energy security.
03:54Oil then goes to become and the reserves of Venezuela will become a geostrategic target,
04:01a fundamental target. So, our countries, our peoples are fighting an essential battle for
04:07assisting as a nation, for assisting as a homeland. Moreover, there's a contribution
04:11we made towards economic and international balance by resisting the sanction mechanism,
04:16which is economic aggression. How we resist in order to provide an important participation for
04:23the growth of the nations and for the peaceful development, which it should be constituted in
04:30the BRICS, a network of countries that have different mechanisms of trade. Today, the
04:36President has said how the Russian crude oil is paid in rubles by 40%. Venezuela also sells oil
04:44in Bolivar's currency. So, it is a way of reconfiguration of a world that seeks peace,
04:55different from the centers of hegemony powers, which sanctions with war have become its main
05:01policy of aggression against the nations. That was Delcy Rodríguez, Vice President and Minister
05:07of Oil of Venezuela, on the challenges and prospects of the sector in a country that
05:12continues to find alternative growth methods despite international wars of measures that
05:17seek otherwise.