Russia-Venezuela cooperation should serve to strengthen economic resilience against Western sanctions: Lavrov

MOSCOW, Nov. 16 (Xinhua) -- Russian Foreign Minister Sergei Lavrov said Thursday that cooperation between Russia and Venezuela should serve to strengthen the resilience of both countries' national economies amid Western sanctions.

"We have a common opinion that our bilateral cooperation should contribute to increasing the stability of our national economies, against the backdrop of the massive sanctions campaign unleashed by the West," Lavrov said at a press conference following talks with his Venezuelan counterpart Yvan Gil in Moscow.

Both countries agreed on taking practical measures to expand bilateral trade, investment and business cooperation, in light of the current challenges, he said.

Stressing that Venezuela's current economic problems are provoked by the illegitimate restrictions imposed by the United States, Lavrov said the cooperation would further help strengthen the technological sovereignty of both states and facilitate the implementation of import substitution programs.

The West has used illegal sanctions to undermine the sovereignty of both countries, said the Venezuelan minister.

Russia and Venezuela will continue to expand their bilateral trade, economic and political cooperation, and move towards de-dollarization and settlements in national currencies, Gil said.