Russian President Vladimir Putin has invited Venezuelan President Nicolás Maduro to Moscow's Victory Day celebrations during the 80th anniversary of their diplomatic relations, a milestone that underscores the deepening strategic partnership between the two sanctions-hit countries.

During a video conference with Maduro on March 14, the Russian leader delved deep into the historical connections between the two nations. He recalled the 18th-century visit of Venezuelan national hero Francisco de Miranda to Russia, when Empress Catherine II awarded him a colonel's rank and a Russian passport.

Putin also brought up Venezuela's contributions during World War II, mentioning the crucial fuel and lubricant supplies sent through the lend-lease system, which allegedly supported Soviet military operations during the conflict.

The Kremlin’s outreach comes at a critical moment for Venezuela, which has been increasingly isolated on the international stage following the July 2024 disputed election that saw Maduro claiming victory amid widespread fraud allegations.

As bne Intellinews reported last year, troops associated with Russia's Wagner Group had been observed among Venezuelan security forces during protests following the contested vote. The private military company founded by deceased tycoon Yevgeny Prigozhin has also been involved in training elite Venezuelan combat units.

Putin's latest invitation includes a proposal to sign a comprehensive strategic partnership agreement, offering the Chavista leader a potential diplomatic reprieve.

While Maduro has not yet confirmed his attendance at the May 9 parade – where world leaders including Chinese President Xi Jinping and Indian Prime Minister Narendra Modi are expected – the Venezuelan government has announced plans to unveil a monument honouring the Soviet army.

The relationship has deep roots in the era of former Venezuelan president Hugo Chávez, whom Putin credits with making a "qualitative breakthrough" in bilateral relations. Russian Foreign Minister Sergey Lavrov has similarly hailed Chávez as one of the first Latin American politicians to promote the concept of multipolarity in modern international relations.

Today, the partnership extends far beyond historical reminiscence. Russia has been a crucial ally for Venezuela, particularly in navigating international sanctions. During last year’s BRICS summit in Kazan, Putin strongly advocated for Venezuela’s entry into the burgeoning trade bloc. However, in a blow to Maduro, Caracas’ bid was vetoed by Brazil, which does not recognise the official result of last year’s election due to the Venezuelan electoral council’s refusal to publish detailed voting tallies.

Venezuela and Russia have long-standing military and economic ties. Russia is a major creditor to the Venezuelan government, having extended approximately $17bn in loans since 2006. In turn, Moscow, through its state-controlled energy firm Rosneft, maintains interest in Venezuela's vast oil reserves, the world's largest proven deposits.

At a point in 2019, Rosneft managed nearly 60% of Venezuela's exports, providing a lifeline to state oil refiner PDVSA when Western companies scaled back operations following the imposition of crippling sanctions during US President Donald Trump’s first term.

Besides mutual diplomatic support in international forums, including Venezuela's staunch backing of Russia's invasion of Ukraine at the UN, collaboration now spans multiple domains such as space exploration and defence. After losing access to the French Guiana Spaceport, Russia signed a space cooperation agreement with Venezuela in 2022, seeking alternative equatorial launch locations to optimise satellite deployment capabilities.

Meanwhile, Maduro continues to play a delicate diplomatic game, maintaining relations with Moscow while leaving diplomatic channels with Washington open – as shown by last month’s brief thaw in relations with the US that followed Special Envoy Richard Grenell’s visit to Caracas. Still, the recent cancellation of Chevron's operating licence has thrown Venezuela's energy sector into disarray, potentially opening opportunities for Russia, China, or Iran – countries with which Caracas maintains good levels of cooperation.

As global tensions escalate and historic allegiances shift, the Russia-Venezuela alliance remains a constant, with Moscow arguably being the most consistent political ally of the Maduro regime.

Yet the relationship is hardly symmetrical: for Maduro, it offers a vital strategic lifeline; for Putin, it is yet another node in Russia's global network of “strategic partnerships.”