Al Mayadeen English

  • Ar
  • Es
  • x
Al Mayadeen English

Slogan

  • News
    • Politics
    • Economy
    • Sports
    • Arts&Culture
    • Health
    • Miscellaneous
    • Technology
    • Environment
  • Articles
    • Opinion
    • Analysis
    • Blog
    • Features
  • Videos
    • NewsFeed
    • Video Features
    • Explainers
    • TV
    • Digital Series
  • Infographs
  • In Pictures
  • • LIVE
News
  • Politics
  • Economy
  • Sports
  • Arts&Culture
  • Health
  • Miscellaneous
  • Technology
  • Environment
Articles
  • Opinion
  • Analysis
  • Blog
  • Features
Videos
  • NewsFeed
  • Video Features
  • Explainers
  • TV
  • Digital Series
Infographs
In Pictures
  • Africa
  • Asia
  • Asia-Pacific
  • Europe
  • Latin America
  • MENA
  • Palestine
  • US & Canada
BREAKING
Reuters: US and Chinese officials met again in Geneva to resume trade talks
Al Mayadeen's envoy: The process of uranium enrichment is the main obstacle in the talks
Al Mayadeen's envoy to Muscat, quoting a source in the delegation engaging in the nuclear talks: If we see that the other party deviates from the agreed-upon frameworks, we will not continue the talks
Al Mayadeen's envoy to Muscat, quoting a source in the delegation engaging in the nuclear talks: Iran is ready to reassure all parties that its nuclear program will remain peaceful
Araghchi: Iran's position on its right to a nuclear program is firm, but we are ready for greater transparency and hope that the other side's approach will be clear
Araghchi: Uranium enrichment is a valuable achievement for the Iranian people and is non-negotiable
Araghchi: Iran's nuclear program is legitimate and legal, and all our activities are peaceful and have been and will remain under the supervision of the International Atomic Energy Agency
Araghchi: Unlike the opposing side, Iran's positions are clear and proceeding steadily
Araghchi: Unfortunately, the US stances are contradictory between what is said in the talks and what appears in the media
Iranian Foreign Minister Abbas Araghchi, before heading to Muscat: We hope to reach a specific point in this round of talks

Maduro proposes creating fund based on oil revenues to support economy

  • By Al Mayadeen English
  • Source: Agencies
  • 1 Sep 2022 09:53
  • 2 Shares
3 Min Read

Venezuela is ready to deliver its oil to Serbia, the US, and any other country interested in oil supplies, according to Venezuelan Oil Minister.

  • x
  • Venezuelan President Nicolas Maduro
    Venezuelan President Nicolas Maduro (Reuters)

Venezuelan President Nicolas Maduro considered that his country should create a fund based on oil revenues to guarantee the stability of the economy.

"Oil is getting more and more expensive. What are we going to do with oil, what is my idea? Thanks to oil, we must save, [create] a fund to guarantee the future for generations, the stability of the country's economy," Maduro indicated.

Venezuela ready to sell oil to any interested country

In a similar context, Venezuelan Oil Minister Tareck El Aissami said on Thursday that Venezuela is ready to deliver its oil to Serbia, the United States, and any other country interested in oil supplies.

"If the government of Serbia, the US, or any other country in the world, or any other company in the world, including private companies, are interested in buying oil, that is excellent," El Aissami told journalists.

Serbian President Aleksandar Vucic told Reuters on Monday that Belgrade was preparing an alternative to Russian oil supplies, including deliveries from Iraq and Venezuela.

In mid-June, Vucic said that Serbia will not be able to import oil from Russia, which is delivered by tankers to Croatia and then sent through the Adriatic oil pipeline for processing, starting November 1 due to Western sanctions against Moscow.

Related News

Serbia’s Vucic discharged from hospital, to mark Victory Day in Russia

Serbia's Vucic defies EU pushback, to attend Moscow's victory parade

Earlier, Vucic repeatedly pointed out that crude oil from Iraq was $31 per barrel more expensive than Russian oil, adding that this would lead to budget losses of $600 million a year.

Venezuela's oil industry has been strangled by US sanctions on the country and declining investments. Consequently, the overall production dropped by 38% this July in comparison with last year.

US Presidents Joe Biden's initial moves to restart talks with Venezuelan President Nicolas Maduro triggered hopes that Venezuelan oil would flow once again and relieve tight global markets and rising prices.

EU prepares emergency plan to halt energy prices

This comes as the European Union is preparing for emergency action to reform the electricity market and hold the energy prices in its grip, especially since they have soared since the war in Ukraine began, according to senior officials.

EU energy ministers will be holding urgent talks in Brussels, Belgium, on September 9.

The high gas prices have been followed by disruptions in the nuclear and hydroelectric sectors against the backdrop of a heatwave due to climate change, threatening businesses, and households with bills beyond affordability. 

"The skyrocketing electricity prices are now exposing the limitations of our current electricity market design," said EU Commission President Ursula von der Leyen on Monday.

"It was developed for different circumstances. That's why we are now working on an emergency intervention and a structural reform of the electricity market," she indicated.

It is noteworthy that two weeks ago, European gas prices hit a six-month high, compounding recession fears as the area faces rationing due to Russian supply disruptions caused by the war in Ukraine.

  • Serbia
  • Tareck El Aissami
  • Venezuela
  • Aleksandar Vucic
  • Nicolas Maduro

Most Read

Trump cut off contact with Netanyahu, senior Israeli official says

Trump cut off contact with Netanyahu: Israeli media

  • US & Canada
  • 9 May 2025
Pakistan downs an Indian jet and hits a military base in Kashmir escalation.

Pakistan downs 3 Indian jets, hits military base in Kashmir escalation

  • Politics
  • 7 May 2025
Yemeni missile hits Ben Gurion Airport as interceptors fail

YAF targeted Ben Gurion with hypersonic ballistic missile: Saree

  • MENA
  • 4 May 2025
"Israel" appears to be the only place in the world where there are actual demonstrations defending rapists as national heroes precisely because of their crimes. (Al Mayadeen English; Illustrated by Batoul Chamas)

'Israeli pride' - Celebrating rape in the Zionist entity

  • Opinion
  • 4 May 2025

Coverage

All
Gaza prevails against genocide

Read Next

All
Palestinians inspect the damage caused by an Israeli airstrike that targeted displacement tents in Deir al-Balah, in the central Gaza Strip, Wednesday, May 7, 2025 (AP)
Politics

Liberated prisoner Yousri al-Masri martyred in Gaza airstrike

AP
Politics

US envoy to deliver 22-point Ukraine peace plan to Putin

AP
Politics

Pakistan denies violating ceasefire as tensions flare along border

AP
Politics

Israeli media blasts Netanyahu over US ties, war failures

Al Mayadeen English

Al Mayadeen is an Arab Independent Media Satellite Channel.

All Rights Reserved

  • x
  • Privacy Policy
  • About Us
  • Contact Us
  • Authors
Android
iOS