• Skip to main content
  • Skip to secondary menu
  • Skip to primary sidebar
  • Skip to footer
  • Best Managed Accounts
  • Forex Robots
  • Forex Brokers
  • Forex Signals
  • Social Trading Platforms
  • Community Reviews

  • Robots
  • Start Guide
  • Glossary
  • Basics
    • Currency Pairs
    • Charts
    • Candlesticks
    • Trading Tips
  • Strategies
    • Technical Analysis
    • Fundamental Analysis
    • Day Trading
    • Scalping
    • Swing Trading
    • Trend Following
  • News
  • Reviews
    • Forex Robots
    • Forex Brokers
  • Mustreads
  • Crypto Trading

Territorial Dispute between Guyana and Venezuela

December 14, 2023 by Forex Winner Leave a Comment

Introduction

The leaders of Guyana and Venezuela recently convened in St. Vincent and the Grenadines to address a long-standing territorial dispute. The tension escalated after Venezuelans voted in a referendum to claim two-thirds of their smaller neighbor, which is abundant in oil and minerals. Regional partners pushed for this meeting, which was attended by Guyanese President Irfaan Ali, Venezuelan President Nicolás Maduro, and the prime ministers of Barbados, Dominica, and Trinidad and Tobago.

The Meeting

President Ali arrived at the Argyle International Airport on the eastern Caribbean island of St. Vincent, with President Maduro following shortly after. Before the meeting commenced, President Maduro briefly spoke to reporters, expressing his satisfaction with Latin American and Caribbean states and Caricom taking this step towards peace. Caricom stands for the Caribbean Community organization.

Best Forex Robots ›

Compare leading trading systems on the market

Importance of the Meeting

Ralph Gonsalves, the prime minister of St. Vincent and the Grenadines, emphasized that he expects additional meetings to be held in the future. He likened the situation to a cricket match, stating that it is not a one-day match but rather a test match with multiple rounds. However, Gonsalves highlighted the significance of both parties engaging in dialogue on neutral grounds, such as St. Vincent and the Grenadines.

The Territorial Dispute

The primary focus of this meeting is to alleviate the tensions surrounding Essequibo. This vast border region, known for its oil and mineral resources, constitutes a significant portion of Guyana’s territory. However, Venezuela claims ownership of Essequibo as its own.

Escalating Actions

Following the referendum, President Maduro ordered Venezuela’s state-owned companies to explore and exploit the oil, gas, and mines in Essequibo. In response, both Guyana and Venezuela have put their militaries on alert.

Uncertain Outcome

At this stage, it remains unclear whether the meeting will result in any agreements or effectively ease the border controversy. However, Guyana’s president consistently emphasizes that the dispute should be exclusively resolved by the International Court of Justice in the Netherlands.

Venezuelan President Firm on Border Dispute with Guyana

Venezuelan President, Ali, recently made a strong statement regarding the country’s ongoing border dispute with Guyana. In response to claims made by Guyana’s Prime Minister, Gonsalves, Ali reiterated Venezuela’s stance on the matter, stating that it would not be open for discussion.

The dispute revolves around the Essequibo region, which Venezuela claims was part of its territory during the Spanish colonial period. According to Venezuela, the 1966 Geneva Agreement nullified the border drawn in 1899 by international arbitrators.

In a letter addressed to Gonsalves, Ali pointed out that the Geneva Agreement states that any border controversy should be settled by the International Court of Justice. He also expressed concern over what he referred to as “inaccurate assertions” made by Maduro, President of Venezuela, in his own letter to Gonsalves.

One of the main points of contention is the description of oil concessions granted by Guyana. Maduro claimed that these concessions were granted in a maritime area that is yet to be delimited. However, Ali clarified that all oil blocks are located well within Guyanese waters under international law, including the United Nations Convention on the Law of the Sea.

Ali further rejected Maduro’s accusation of United States’ interference, specifically mentioning the United States Southern Command’s operations in the disputed territory. He emphasized that any allegation of a military operation aimed at Venezuela within Guyanese territory is false and misleading.

Maduro, in his letter to Gonsalves, reiterated Venezuela’s belief that the border drawn in 1899 was a result of a scheme between the United States and the United Kingdom. He called for an amicable resolution that is acceptable to both parties. Maduro also referenced the upcoming December 3 referendum in Venezuela, where ownership of Essequibo will be claimed.

Although a meeting between the two leaders was scheduled to last only one day, it is widely expected that the disagreement will continue well into next year.

Best Forex Robots ›

Compare leading trading systems on the market

Filed Under: Forex News Tagged With: border controversy, Guyana, international court of Justice, territorial dispute, Venezuela

Reader Interactions

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Primary Sidebar

Best Forex Robots

  1. Techberry 8.7
  2. Happy Forex 8.0
  3. Forex Fury 7.7
  4. Promax Gold EA 6.8
  5. Gump EA 6.4

Best Forex Brokers

  1. Techberry 8.7
  2. XM 8.2
  3. eToro 8.1
  4. Pepperstone 8.1
  5. IG 8.0

Latest News

Man charged in New York with 3-week kidnapping to try to steal Bitcoin

May 30, 2025

Goldman Sachs Expert Predicts Significant Gold Price Surge by 2026

May 29, 2025

Second suspect in New York bitcoin kidnapping surrenders to police

May 28, 2025

Footer

Forex Broker Reviews

Social Trader Tools Review

May 30, 2023 By Shandor Brenner

TradeStation

TradeStation Review

July 1, 2019 By Forex Winner

FBS

FBS Review

January 29, 2020 By Forex Winner

Forex Robot Reviews

Earn2Trade Review

August 20, 2023 By Shandor Brenner

FundedNext Review

August 16, 2023 By Shandor Brenner

Topstep Forex Review

August 14, 2023 By Shandor Brenner

EMAIL NEWSLETTER

Sign up to receive exclusive forex trading guides and insights from our team of experts!

Copyright © 2025 · Forex Traders Guide · About Us · Contact Us
Privacy Policy · Risk Disclosure