Venezuela's Maduro is on his way to Russian Federation to meet Putin

Magnificent future for Turkey and Venezuela Maduro

Erdogan defies Trump, calls Maduro Bolivar

Turkish President Recep Tayyip Erdogan heaped praise on Venezuela's embattled socialist leader Monday as political and economic ties between the two countries blossom.

Turkish President Tayyip Erdogan recently slammed USA sanctions on Venezuela, while meeting with the socialist nation's President Nicolas Maduro.

"We will continue to trade, sell gold with the transparency and legality of our two countries [and] Venezuela produces what it has the right to sell it in the world", he added.

"We know that the countries want to dominate and press, as they do with the rest of the world, and they have even threatened their lives and personal integrity", stated Erdogan.

"We have guarantees of an oil investment of over $5 billion", as well as "gold mining contracts worth over one billion dollars", Maduro told Venezuela's state television VTV.

The United States and the European Union have imposed sanctions on the Venezuelan régime and more than 50 of its officials for alleged acts of corruption and human rights violations.

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"Political problems can not be resolved by punishing an entire nation", said the Turkish head of state.

"The situation in the economic sphere [in Venezuela] remains hard, though some moderate signs of improvement can be observed. We have strong potentials in our economic relations with Venezuela", Erdogan said.

"Political problems can not be resolved by punishing an entire nation", Erdogan said, with Maduro by his side at a forum attended by business people from both countries.

Caracas has made an effort to reduce dependence on US-led or -controlled financial institutions and instruments, including the dollar, and committed in September to trading in euros, yuan and "other convertible currencies" amid United States restrictions.

Massive inflation and a shortage of basic commodities such as foodstuffs and medicine have forced an estimated 2.3 million Venezuelans to immigrate to other South American countries.

"We also signed a contract to guarantee all the wheat - 600,000 tonnes of wheat for the bread of the Venezuelan people", said an ebullient Maduro in the message.

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