Venezuela holds on to referendum despite warning from International Court of Justice
Guyana had described the referendum as an "existential" threat to the country and called on the ICJ to stop the vote. Without explicitly mentioning the referendum scheduled for Sunday, the Hague tribunal called on Venezuela on Friday not to do anything that would endanger the current situation with neighboring Guyana. In the present case, there is "a serious risk that Venezuela will acquire and exercise control and administration over the disputed territory".
Brazil, the regional power bordering both countries, expressed "concern" about the dispute between Venezuela and Guyana. Brazil has therefore "intensified" its military presence, explained the Ministry of Defense in Brasília.
The referendum in Venezuela is intended to overturn a decision made by an arbitration court in 1899, which defined the border with Guyana - a former British and Dutch colony. For decades, Venezuela has laid claim to the Essequibo region, which is administered by Guyana and makes up more than two thirds of its territory.
The covetousness increased after the oil company ExxonMobil discovered an oil deposit in the area in 2015. In October of this year, another significant oil discovery was made in the region, increasing Guyana's reserves to at least ten billion barrels - more than those of oil-rich Kuwait or the United Arab Emirates (UAE).
Tiny Guyana, with a population of just 800,000, has the largest per capita oil reserves in the world, while neighboring Venezuela has the largest proven oil reserves overall. Nevertheless, the socialist-led country is suffering from an ongoing economic crisis.
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- Despite the warning from the International Court of Justice, Venezuela on Friday refused to halt its planned plebiscite, with foreign minister Delcy Rodríguez stating that the vote would go ahead as planned on Sunday.
- The International Court of Justice in The Hague issued a firm warning to Venezuela, expressing concern that the referendum could endanger the ongoing situation with neighboring Guyana.
- In response to the escalating tension between Venezuela and Guyana over the disputed Essequibo region, Brazil has increased its military presence on its border with both countries.
- The referendum in Venezuela seeks to overturn a decision made by an arbitration court in 1899, which defined the border with Guyana, a former British and Dutch colony.
- Venezuela has long claimed sovereignty over the Essequibo region, which makes up more than two-thirds of Guyana's territory, but has faced increased pressure since the discovery of large oil reserves in the area.
- The referendum in Venezuela has raised concerns not only with Guyana but also with international powers like Brazil, which has expressed concern over the dispute and increased its military presence in the region.
- While Venezuela has the largest proven oil reserves in the world, its socialist-led economy is currently struggling with an ongoing economic crisis, making it difficult for the country to finance its ambitious plans for the disputed territory.
- The International Court of Justice in The Hague has warned that Venezuela risks further escalating the dispute with Guyana by holding the referendum, as it could lead to a serious risk of Venezuela acquiring control and administration over the disputed territory.
- Caracas, the capital of Venezuela, has been quick to deny any intention of violating the rules set by the International Court of Justice, but the move to hold the referendum has raised further questions about the government's commitment to resolving the border dispute peacefully.
Source: www.stern.de
