Russian Foreign Minister Sergey Lavrov (right) and Venezuela's Foreign Minister Yvan Gil Pinto shake hands after joint news conference following their talks in Moscow, Russia, on Nov 16, 2023. (PHOTO / AP)

CARACAS/MOSCOW - Venezuela and Russia are moving forward in their de-dollarization process to protect and boost their financial, commercial and economic relations, Venezuelan Foreign Minister Yvan Gil said on Thursday.

Gil held a meeting in Moscow with his Russian counterpart, Sergei Lavrov, where they agreed to "reinforce" financial communication between the central banks of the two countries, he said on social media.

The official noted that the Russian Mir payment system was already 100 percent operational throughout Venezuela.

Both countries agreed on taking practical measures to expand bilateral trade, investment and business cooperation, in light of the current challenges, said Russian Foreign Minister Sergei Lavrov

Gil also said in a statement, published by the official Agencia Venezolana de Noticias, that "Venezuela is willing to join the BRICS group as soon as possible."

For his part, Lavrov said that Russia will support "the desire of our friends to cooperate and actively participate in this association."

Gil said the West seeks to undermine the sovereignty of Russia and Venezuela, but it will not succeed, since Moscow and Caracas "will protect their bilateral relations from all kinds of unilateral restrictive measures."

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He added that Venezuela and Russia have reached "important agreements" to counteract the West's sanctions policy, according to Agencia Venezolana de Noticias.

Lavrov said that cooperation between Russia and Venezuela should serve to strengthen the resilience of both countries' national economies amid Western sanctions.

"We have a common opinion that our bilateral cooperation should contribute to increasing the stability of our national economies, against the backdrop of the massive sanctions campaign unleashed by the West."

Both countries agreed on taking practical measures to expand bilateral trade, investment and business cooperation, in light of the current challenges, he said.

Stressing that Venezuela's current economic problems are provoked by the illegitimate restrictions imposed by the United States, Lavrov said the cooperation would further help strengthen the technological sovereignty of both states and facilitate the implementation of import substitution programs.