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Putin Backs Venezuela Opposition Dialog, But No New Aid Offered

Putin Backs Venezuela Opposition Dialog, But No New Aid Offered

(Bloomberg) -- Rejecting dialog with the opposition would be “irrational,” Russian President Vladimir Putin told Nicolas Maduro, less than two weeks after the collapse of negotiations between the Venezuelan leader and his main opponent Juan Guaido.

Putin, one of Maduro’s few international allies, didn’t offer any major new financial support to the embattled regime in his public comments at the opening of their meeting in the Kremlin Wednesday. Touting increasing farm trade, Putin said Moscow will soon send flu vaccines to Caracas, which has seen its economy crippled by U.S. sanctions. “We consider this part of our humanitarian cooperation,” Putin said.

Russia is also fulfilling its obligations under agreements to service weapons already delivered to Venezuela, Putin said. The Interfax news agency said later a new group of Russian military specialists had arrived there.

“We always feel very comfortable in Moscow,” Maduro said, calling the meeting “very important.”

Putin Backs Venezuela Opposition Dialog, But No New Aid Offered

‘No Illusions’

Though Putin didn’t specifically refer to the breakdown in talks between Maduro and Guaido, he highlighted the importance of the contacts. “We consider any rejection of dialog irrational, harmful to the country and a threat to the prosperity of the population,” he said.

The two leaders aren’t expected to sign any agreements during the visit, according to the Kremlin. Putin said trade turnover between the two countries is up 10% and that Russia has invested about $4 billion in Venezuela so far.

“Moscow has no illusions about the situation in Venezuela and clearly understands that Maduro can’t guarantee any investment returns. There can’t be any big economic projects with Venezuela now,” says Dmitry Rozental, deputy director of the state-run Institute of Latin America in Moscow.

The trip is Maduro’s first major international one this year after facing an intense battle for power at home, where Guaido has challenged his position as the legitimate head of the nation. The opposition’s efforts to take over Miraflores Palace have stalled after a botched uprising in April.

Russia has been a strong backer of Maduro as the U.S. has stepped up pressure on the Venezuelan leader. But Moscow has in recent years been reluctant to grant new economic support for the struggling government, which is still repaying billions in past loans, in part with oil supplies. Maduro last visited Russia in December 2018, just days before two Russian strategic bombers made a trip to Venezuela, drawing protest from the U.S.

Russia has also been a major weapons supplier. In June, the Kremlin denied a tweet by U.S. President Donald Trump saying that Putin had told him that Moscow was withdrawing most of its military advisers from Venezuela.

To contact the reporter on this story: Stepan Kravchenko in Moscow at skravchenko@bloomberg.net

To contact the editors responsible for this story: Gregory L. White at gwhite64@bloomberg.net, Tony Halpin

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