Venezuela Pursues Referendum on Disputed Oil-Rich Border Region Despite International Appeals for Restraint
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Venezuela is holding a referendum on establishing a new state called Guayana Esequiba in a disputed, oil-rich territory ruled by Guyana. Guyana fears it could enable a land grab.
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The dispute centers on the Essequibo region, which is larger than Greece and resource-rich. Venezuela contends it was cheated out of the land in 1899.
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The region has huge oil reserves that could make Guyana a top global producer. ExxonMobil is actively extracting oil there with partners.
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The referendum comes despite an ICJ ruling urging Venezuela not to take actions altering the territory's status as the court handles the border dispute case.
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Reactions include concern from Brazil and appeals for a peaceful resolution from the US, which has close ties to Guyana. Venezuela has military superiority but not over Guyana's powerful allies.