Great Game – War over Oil… In LatAm?
Welcome to this week’s geopolitical round-up. We’ll have a look at the most recent events of which we have seen quite a few!
Venezuela moving to annex Essequibo
In a surprisingly self-assured and bold move, Venezuela moved troops close to the Guyanan province of Essequibo, seemingly preparing for a full-scale invasion. Guyana has been the center of attention for the oil business in recent years after the discovery of significant oil reserves in the Essequibo province. Guyana is a relatively impoverished and sparsely populated country so it’s no surprise that the country now suffers from the downsides to finding oil – the so-called “oil curse”.
Still, an outright invasion by a neighboring country is a surprising development. Venezuela has been preparing a referendum on Essequibo for weeks, but the sudden mobilization and incursions were a shock to most observers. Venezuela is seemingly establishing control over key areas and establishing an airstrip in what could be described as the “de facto” part of the annexation, while the “de jure” part still hangs in balance with regional powers getting involved.
Brazil quickly mobilized parts of its military presence in the North, but we are still to see a tangible US response. The violation of Guyanan sovereignty
This week, we cover the Venezuelan invasion of Essequibo, troubles in East Africa and Israel’s renewed offensive in Gaza