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Russia Sends Team to Venezuela to Help Draft Rescue Plan

  • Finance Ministry, central bank officials to offer advice
  • No comment on whether Russia will offer more financial aid
Nicolas Maduro
Nicolas MaduroPhotographer: Wil Riera/Bloomberg
Updated on

Russia has sent a senior delegation to Venezuela to consult high-ranking government officials on a plan to stem the brutal economic collapse in a key Kremlin ally.

Venezuela is reeling from the impact of U.S. sanctions and low oil prices. Russia, which has maintained close ties with the leftist government of President Nicolas Maduro and provided a lifeline in the form of a $3.15 billion debt-rescheduling a year ago, is offering technical assistance at present.