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Venezuela crisis: Maduro claims coup has been 'defeated' – live updates Venezuela crisis: Maduro claims coup has been 'defeated' – live updates
(32 minutes later)
I am wrapping up this blog shortly.
Tom Phillips has filed a new story on the latest goings-on which he leads with Maduro’s claim that a coup attempt by Juan Guaidó has been defeated. You can read that here:
Venezuela crisis: Maduro claims victory over 'deranged' US-backed coup attempt
You can also catch up with via the summary of the drama that I posted about an hour ago here.
Thanks for joining us. Buenas noches.
Away from the immediate politics, it’s worth looking at what is happening with the price of oil – Venezuela’s main export and in many ways the source of much of the trouble engulfing the country.
Crude prices dipped in early trade in Asia on Wednesday thanks to a report showing that US inventories were higher than exppected. Spot Brent crude futures, the international benchmark, were at $71.65 per barrel at 01.43 GMT, down 41c, or 0.6%, from their last close.
But traders believe that if Maduro stays in power, prices will continue to stay lower. “The possibility that Guaido will take control of the situation isn’t as strong as perceived this morning,” Bob Yawger, director of energy futures at Mizuho in New York, told Reuters. “If Maduro hangs on, you’ll see the market stay lower.”
Venezuela produces about one millions barrels a day. That’s not a very much for a country with the world’s largest oil reserves. Saudi Arabia pumps nearly 10m a day. Many market experts blame poor management and corruption at the state-run oil company PDVSA – long used for park-barreling by the regime – as the root of the sector’s weakness.
Other theories have it that oil prices will spike if the crisis is prolonged, as per this piece we carried last year.
$100 a barrel? Will Iran sanctions and Venezuela crisis bring oil price spike?
Despite the violence earlier in the day, reports say things are calmer on the streets of Caracas.Despite the violence earlier in the day, reports say things are calmer on the streets of Caracas.
Reuters says that there is “an uneasy peace” in the capital. It says human rights organisations have reported that 109 people were injured in the clashes earlier between Guaidó supporters and the security forces. Most were reportedly hit by pellets or rubber bullets.Reuters says that there is “an uneasy peace” in the capital. It says human rights organisations have reported that 109 people were injured in the clashes earlier between Guaidó supporters and the security forces. Most were reportedly hit by pellets or rubber bullets.
Now that Maduro and Guaidó have had their say, it might be useful to catch up with what we know so far about what appears to be some sort of uprising in Venezuela.Now that Maduro and Guaidó have had their say, it might be useful to catch up with what we know so far about what appears to be some sort of uprising in Venezuela.
President Nicolas Maduro has addressed the Venezuelan people for the first time since the rebellion led by Juan Guaidó began on Tuesday morning. Speaking at around 9pm local time on Tuesday, Maduro claimed the “coup” has been defeated and that the perpetrators were being “interrogated”.President Nicolas Maduro has addressed the Venezuelan people for the first time since the rebellion led by Juan Guaidó began on Tuesday morning. Speaking at around 9pm local time on Tuesday, Maduro claimed the “coup” has been defeated and that the perpetrators were being “interrogated”.
Guaidó released a video message about half an hour earlier in which he called on people to “hit the streets” for a mass demonstration against the Maduro regime on Wednesday.Guaidó released a video message about half an hour earlier in which he called on people to “hit the streets” for a mass demonstration against the Maduro regime on Wednesday.
He called the uprising he triggered on Tuesday morning a “peaceful rebellion” and denied it was a coup attempt. He said the “final phase” of the collapse of the Maduro regime had begun.He called the uprising he triggered on Tuesday morning a “peaceful rebellion” and denied it was a coup attempt. He said the “final phase” of the collapse of the Maduro regime had begun.
His call to arms after being filmed flanked by armed men in uniform led to violent street clashes. But the military appeared to remain mostly loyal to Maduro.His call to arms after being filmed flanked by armed men in uniform led to violent street clashes. But the military appeared to remain mostly loyal to Maduro.
In his address, Maduro was flanked by defence minister Vladimir Padrino, appearing to contradict earlier claims by US national security chief John Bolton that key figures from the Maduro government were about to defect.In his address, Maduro was flanked by defence minister Vladimir Padrino, appearing to contradict earlier claims by US national security chief John Bolton that key figures from the Maduro government were about to defect.
In an almost hour-long speech, Maduro also denied US claims that he planned to flee to Cuba but was persuaded to remain in Venezuela by his main overseas backer, Russia.In an almost hour-long speech, Maduro also denied US claims that he planned to flee to Cuba but was persuaded to remain in Venezuela by his main overseas backer, Russia.
The president also claimed that some perpetrators had fled to the Brazilian embassy in Caracas. There was no indication in Guaidó’s video about his whereabouts.The president also claimed that some perpetrators had fled to the Brazilian embassy in Caracas. There was no indication in Guaidó’s video about his whereabouts.
Maduro, who has now finished his speech, says some of the military officials involved in the rebellion had fled to the Brazilian embassy in Caracas.Maduro, who has now finished his speech, says some of the military officials involved in the rebellion had fled to the Brazilian embassy in Caracas.
He also denied the claim by US secretary of state Mike Pompeo earlier that he had been preparing to flee to Cuba until the Russians, who have given Maduro their full backing, said he should not leave the country.He also denied the claim by US secretary of state Mike Pompeo earlier that he had been preparing to flee to Cuba until the Russians, who have given Maduro their full backing, said he should not leave the country.
Maduro denies @SecPompeo claim he was preparing to flee to Cuba until Russia said no. “Señor Pompeo, please!”Maduro denies @SecPompeo claim he was preparing to flee to Cuba until Russia said no. “Señor Pompeo, please!”
John Bolton’s claim earlier that key figures from the regime, including defence minister Vladimir Padrino, were about to defect seemed to be contradicted tonight when Padrino appeared alongside Maduro when he made his speech.John Bolton’s claim earlier that key figures from the regime, including defence minister Vladimir Padrino, were about to defect seemed to be contradicted tonight when Padrino appeared alongside Maduro when he made his speech.
In case you missed the earlier post, Bolton said three senior Maduro aides had committed to establishing a peaceful transfer of power to the opposition. Along with Padrino, supreme court chief judge Maikel Moreno and presidential guard commander Ivan Rafael Hernandez Dala as havning been involved in those conversations.In case you missed the earlier post, Bolton said three senior Maduro aides had committed to establishing a peaceful transfer of power to the opposition. Along with Padrino, supreme court chief judge Maikel Moreno and presidential guard commander Ivan Rafael Hernandez Dala as havning been involved in those conversations.
The ultra-hawkish Bolton warned Maduro his “time is up”.The ultra-hawkish Bolton warned Maduro his “time is up”.
Tom is still tweeting highlights from Maduro’s address.Tom is still tweeting highlights from Maduro’s address.
The president has accused the plotters of trying to spark an armed confrontation between Venezuelans that could be used to justify foreign intervention “so the empire could get its claws into Venezuela”. (For empire read the “Yankee imperialists”, of course)The president has accused the plotters of trying to spark an armed confrontation between Venezuelans that could be used to justify foreign intervention “so the empire could get its claws into Venezuela”. (For empire read the “Yankee imperialists”, of course)
Maduro also claimed that by noon on Tuesday 80% of troops involved in the mutiny attempt had abandoned Guaidó. Only a small group of about 20 was left having “handed over their souls to the coup-mongering far right”.Maduro also claimed that by noon on Tuesday 80% of troops involved in the mutiny attempt had abandoned Guaidó. Only a small group of about 20 was left having “handed over their souls to the coup-mongering far right”.
Maduro says the action was an attempt to spark an armed confrontation between Venezuelans that cd be used to justify a foreign intervention “so the empire could get its claws into Venezuela”Maduro says the action was an attempt to spark an armed confrontation between Venezuelans that cd be used to justify a foreign intervention “so the empire could get its claws into Venezuela”
Maduro is still speaking.Maduro is still speaking.
He says the perpetrators of the coup were being interrogated. “This cannot go unpunished ... all of those involved must surrender.”He says the perpetrators of the coup were being interrogated. “This cannot go unpunished ... all of those involved must surrender.”
Maduro says his government will continue to be victorious and that his regime will continue to keep a “razor steel” nerve to protect the country.Maduro says his government will continue to be victorious and that his regime will continue to keep a “razor steel” nerve to protect the country.
In a rambling address, the president says that the rebellion was detected at about 4.15am and was led by Leopoldo Lopez “the fascist”.In a rambling address, the president says that the rebellion was detected at about 4.15am and was led by Leopoldo Lopez “the fascist”.
He claimed his government responded with “nerves of steel, maximum serenity and effective action”.He claimed his government responded with “nerves of steel, maximum serenity and effective action”.
Maduro says the uprising was detected at about 415am and was led by Leopoldo Lopez “the fascist”. Claims his government responded with “nerves of steel, maximum serenity and effective action”Maduro says the uprising was detected at about 415am and was led by Leopoldo Lopez “the fascist”. Claims his government responded with “nerves of steel, maximum serenity and effective action”
The mutineers were heavily armed but had been overcome by the armed forces consisting of the army and the “Bolivarian national guard”.The mutineers were heavily armed but had been overcome by the armed forces consisting of the army and the “Bolivarian national guard”.
The president says the mutiny by Juan Guaidó has been defeated. He has Venezuela will never surrender to “imperialist forces”.The president says the mutiny by Juan Guaidó has been defeated. He has Venezuela will never surrender to “imperialist forces”.
Maduro speaking now, surrounded by political and military top brass. He claims Guaidó's coup-attempt has been defeated and calls for applause for the brave and obedient Bolivarian armed forces pic.twitter.com/IZmKWVVF5LMaduro speaking now, surrounded by political and military top brass. He claims Guaidó's coup-attempt has been defeated and calls for applause for the brave and obedient Bolivarian armed forces pic.twitter.com/IZmKWVVF5L
El presidente is speaking now ...El presidente is speaking now ...
Another exciting development in Caracas where it is rumoured that Maduro is about to address the nation – his first appearance since Guaidó’s mutiny began before dawn on Tuesday.Another exciting development in Caracas where it is rumoured that Maduro is about to address the nation – his first appearance since Guaidó’s mutiny began before dawn on Tuesday.
Tom Phillips says: “Frantic speculation about why he has taken so long to show his face – we may be about to find out why.”Tom Phillips says: “Frantic speculation about why he has taken so long to show his face – we may be about to find out why.”
Following up his claim that Maduro no longer has the backing of the military, Guaidó calls in his message for members of the military to “keep advancing” in efforts to oust the president.Following up his claim that Maduro no longer has the backing of the military, Guaidó calls in his message for members of the military to “keep advancing” in efforts to oust the president.