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South American J&K? Guyana-Venezuela Essequibo disputeThe dispute centers on the Essequibo Region, a vast area of 159,500 square kilometers—about two-thirds of Guyana's landmass.
Rich in natural resources like gold, timber, and potentially oil, the Essequibo has become even more valuable due to recent offshore oil discoveries by Guyana in the nearby Atlantic waters.
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Here's what you need to know about the conflict:◾️ Origins of the conflict: The Essequibo dispute began in the early 1800s, with conflicting territorial claims as colonial powers carved out South America. The region was long administered by the Dutch and later became part of British Guiana.
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Territorial claims: Venezuela has claimed it since the 19th century, despite a 1899 arbitration ruling in favor of Guyana. For Guyana, Essequibo is an integral part of its territory, critical to its sovereignty and national development.
◾️ Strategic value: Essequibo’s vast oil reserves, fertile lands, and crucial waterways make it economically indispensable for both Guyana and Venezuela. Furthermore, major oil discoveries off Guyana's coast have reignited Venezuela's claims.
◾️ Geopolitical implications: The dispute risks escalating into a broader conflict as Venezuela pushes for referendums, while Guyana’s booming oil industry faces uncertainty,
threatening stability in northern South America.
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