The Venezuelan government plans to increase oil output by more than 1 million barrels, President Nicolas Maduro on Wednesday.
“We are using difficulties that resulted from sanctions to create a modern, self-sustainable economy, and call upon investors from Arabic and Islamic countries to invest their money into developing the oil and gas industry,” Maduro said.
According to the Venezuelan president, the country’s government “plans to triple gold mining rates, as well as production of aluminum and other metals.”
“US imperialism has become a paper tiger, and Venezuelan people will win despite sanctions,” Maduro noted.