From venezuelanalysis
Oil-rich Venezuela is to sell cheap petroleum to 13 Caribbean nations, but while the deal offers much needed protection from crippling energy prices it also threatens to draw these nations into a row between Caracas and Washington.In Jamaica last month, over half a dozen Caribbean heads of state met to sign up to Petrocaribe, an oil initiative put forward by Hugo Chavez, Venezuela’s left-wing, anti-US Government president. Chavez controls the largest reserve of petroleum outside the Middle East.
Under the plan, Venezuela will offer cut-price oil, accept deferred payment and allow borrowers to pay for oil with goods such as sugar, rice, bananas or kidney bean
