Aided by Russia and other allies, Venezuela has managed to mitigate the impact of US sanctions on its economy in the past five years, the Russian ambassador in Caracas told Sputnik.
"Thanks to the government's timely action and, of course, to the expert assistance provided by its friends, specifically Russia, Venezuela has gradually minimized the negative effect of unilateral restrictions and achieved sustainable growth," Sergey Melik-Bagdasarov said in an interview.
The South American economy continues to rebound from post-pandemic restrictions, the Russian diplomat said. Construction projects have been brought out of mothballs, the fuel crisis has ended, and the cultural life is as vibrant as ever.
"Five years ago, this place had routine supply and food problems, to say nothing of growing prices ... and inflation, while now the exchange rate of the national currency is relatively stable and stores are full of all kinds of goods, including imports," he added.
Venezuela is becoming an attractive holiday destination for an increasing number of foreign tourists, including tens of thousands of Russians.