Maduro departs to meet Putin in Moscow

Maduro departs to meet Putin in Moscow

The Turkish president added that his "friend" Maduro was facing "manipulative attacks from certain countries and acts of sabotage from economic assassins", in an apparent reference to the United States.

Russian Federation is a major political ally of Venezuela, and Russia's largest oil company, Rosneft, is heavily invested in the South American nation's oil fields, which produce less crude each month.

While the markets of other countries on Localbitcoins demonstrated moderate trading volume last week, Venezuela, shows a trend to further increase the volume of bitcoin trade. "You cannot punish a whole people to resolve political disagreements", he explained.

Trade between the two countries have been growing, with Turkish data showing the country imported US$900 million in gold from Venezuela in the first nine months of the year.

He also praised Venezuela's socialist leader, saying Maduro's "exemplary attitude is very valuable at a time when enmity toward Islam has risen and Western countries are stoking hostility toward foreigners".

"We do not interfere in the trade of the USA or other countries, nobody should interfere with our commercial and economic activities", he said, stressing that the South American country would continue to legally export its gold resources.

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One of the agreements formalizes cooperation between the state-owned oil companies Petróleos de Venezuela S.A. (PDVSA) and the Turkish Petroleum International Company, in addition to an agreement to avoid double taxation and tax evasion.

Hit by United States and European Union sanctions, and ostracized as a dictator by Western powers for his brutal suppression of the opposition - many of whose leaders are in jail or exiled - Maduro has recently reached out to Washington's foes in a bid to raise investment.

Venezuela, overwhelmed by hyperinflation, a severe shortage of commodities and a strong recession, has reportedly exported around $ 700 million worth of gold to Turkey.

Before the encounter between the two world leaders, Kremlin spokesman Dmitry Peskov refused to give reporters at a press conference a number on Russian investment in the country.

"We also signed a contract to guarantee all the wheat - 600,000 tonnes of wheat for the bread of the Venezuelan people", said an ebullient Maduro in the message. Ties between Turkey and the United States, two North Atlantic Treaty Organisation allies, have also been strained.

"It's been a very long, intense couple of days of work", Maduro said after meeting investors.

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