Guyana and Venezuela Commit To Peaceful Resolution of Essequibo Dispute

Guyana and Venezuela have pledged not to resort to the use of force in settling their long-standing dispute over the oil-rich region of Essequibo. Following a meeting in St Vincent and the Grenadines with Venezuela’s President Nicolás Maduro, Guyanese President Irfaan Ali reiterated his commitment to regional peace.

President Ali emphasised Guyana’s right to exploit its sovereign space while expressing the country’s dedication to resolving the dispute through peaceful means. The leaders released a joint three-page declaration outlining their commitment to refraining from threatening or using force against each other under any circumstances. Additionally, they agreed to continue dialogue and establish a joint commission of foreign ministers to address any emerging issues related to the contested area.

Essequibo, a vast 160,000 sq-km jungle region, constitutes two-thirds of Guyana’s territory and has been a historical point of contention between the two nations. While Guyana intends to resolve the matter through the International Court of Justice (ICJ) in The Hague, Venezuela does not recognize the court’s jurisdiction.

The dispute escalated in 2015 when Venezuela renewed its claim to Essequibo following the discovery of oil in waters off its coast. Despite Guyana’s pursuit of diplomatic solutions, Venezuela, led by President Maduro, indicated a willingness to permit oil exploration in the contested territory.

During the meeting, President Ali wore a bracelet featuring a map of Guyana, including Essequibo, symbolising the country’s commitment to resolving the dispute through the ICJ. He clarified, “Guyana is not the aggressor, Guyana is not seeking war, but Guyana reserves the right to work with all our partners to ensure the defence of our country.”

Guyana’s economy is experiencing a boom, primarily attributed to offshore oil reserves, with output expected to triple to over 1.2 million barrels per day by 2027. On the other hand, Venezuela, possessing the world’s largest proven oil reserves, faces a severe economic crisis exacerbated by US sanctions imposed on its oil sales following the 2018 election of President Maduro.

The commitment to peaceful dialogue and the establishment of a joint commission reflect a diplomatic effort to de-escalate tensions and seek a resolution to the longstanding territorial dispute between Guyana and Venezuela.

Kiki Garba

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