Venezuela’s president offers to swap oil for Covid-19 vaccines | THE DAILY TRIBUNE | KINGDOM OF BAHRAIN

Venezuela’s president offers to swap oil for Covid-19 vaccines | THE DAILY TRIBUNE | KINGDOM OF BAHRAIN

Venezuelan President Nicolas Maduro has offered to swap oil for Covid-19 vaccines given rapidly rising coronavirus numbers as well as US sanctions against the crisis-torn South American state. 

"Venezuela has the oil tankers, it has the customers who buy the oil from us, and it would provide part of its production to guarantee all the vaccines Venezuela needs," Maduro said, according to a statement. 

He did not elaborate on the details of the plan. 

Venezuela is in a deep political and economic crisis. Due to a lack of foreign currency and numerous US sanctions, it can hardly import food, medicine and daily necessities. Even petrol is in short supply in the country with the largest oil reserves in the world, dpa reported. 

In Maduro's view, the country has only one other option