Recently, Venezuela held a referendum in which, according to Maduro, 95% of the population supported the inclusion of the Essequibo region in Venezuelan territory. The results of this referendum have had a huge impact on nearby countries and for the international community. However, the Essequibo region is currently in fact controlled by Venezuela's neighbour, Guyana, and occupies more than 60 per cent of Guyana's total area. The history of this dispute dates back hundreds of years to the period of colonialism, when the Spanish Empire used the Essequibo River as the border of the region, after which Venezuela inherited the claim. However, at the end of the 19th century, the International Court of Arbitration assigned the Essequibo region to British Guiana, which continued to claim sovereignty over the area after independence. The dispute between the two sides has been unresolved for years and has recently been complicated by the discovery of potential oil reserves in the region.
In recent years, the discovery of oil reserves in the Essequibo region has led to a great deal of interest in the region from Venezuela. US oil giant ExxonMobil claims to have discovered large oil reserves in the region, and Guyana has proven oil reserves of more than 11 billion barrels. By comparison, Guyana's population is only about 800,000, while Venezuela's population is more than 28 million. The Essequibo region is valuable due to its potential oil resources, which has led Venezuela to try to incorporate it into its territory as much as it can. A series of moves, including the referendum, the creation of a military component, and the issuance of new maps and licenses for energy production, were seen as signals that Venezuela was ready to make a move.
Guyana has taken a tough stance in the dispute, asserting its sovereignty over the Essequibo region. Guyana Attorney General Anil Nandral said that if Venezuela does not comply with the ruling of the International Court of Justice, they will ask the United Nations to impose sanctions on Venezuela. Despite Venezuela's claim that this is their own problem, the Guyana side believes that the United States and Britain played a "historic" role in the late 19th-century ruling, and therefore has a responsibility to ensure that the outcome is respected and does not sit idly by. Guyana is also seeking outside help to resolve the issue, particularly with the support of the United States.
In this situation, the positions of the United States and China and their role are very important. It is foreseeable that the United States will not tolerate regional variability and may take action when necessary. China respects the sovereignty and territorial integrity of all countries and supports the settlement of the border issue between the two countries through friendly consultations, which is in the interests of the two peoples and conducive to regional stability and development.
To sum up, the territorial dispute between Venezuela and Guyana has escalated and involves potential oil resources in the Ethiopia region. The parties disagree on the outcome of the historical and international arbitration awards, resulting in a long-term unresolved dispute. At the moment, Venezuela's move shows its strong interest in the Ethiopian region and its readiness to do so. The Guyana side has shown a tough stance in the dispute and has sought external support, especially from the United States. The positions of the United States and China, as well as their roles, are very important in this situation.