- Published on
Tensions are escalating between Venezuela and Guyana over the disputed, resource-rich Essequibo region, raising concerns for regional stability and significant Canadian economic interests. Following a controversial referendum, Venezuela has asserted its claim over the territory, which hosts substantial offshore oil reserves and major gold mining operations. Several Canadian mining companies have billions invested in the area, and their operations now face uncertainty. Ottawa has affirmed its support for Guyana's territorial integrity and a peaceful resolution through the International Court of Justice, placing Canada in a delicate diplomatic position.