MEXICO CITY (Pakistan Point News / Sputnik - 30th June, 2020) Venezuelan Petroleum Minister Tareck El Aissami announced the government's intention to restart the program of preferential oil supplies to the Caribbean countries.
"We in Venezuela have prepared a plan to restart Petrocaribe... The new energy architecture has a direct impact on the quality of life of our peoples," El Aissami said in a speech, parts of which were posted on the Venezuelan Ministry of Petroleum's Twitter.
According to the Petrocaribe agreement, which was signed in 2005, twenty countries of the Caribbean and Central America received daily about 200,000 barrels of Venezuelan oil on the terms of a partial payment, soft loan and barter.
The Petrocaribe program was launched in order to diversify the supply of Venezuelan oil, which was then sent mainly to the United States. Formally, it did not terminate, however, several parties withdrew from the agreement during the crisis period, when Venezuela stopped deliveries.
