Rank #62 · Americas
Venezuela operates one of South America's more opaque defense establishments, with estimated spending of $2.4 billion despite a severe economic contraction under Maduro. The armed forces — anchored by Russian Su-30MK2 fighters and S-300VM air defense systems — serve both conventional deterrence and internal political control functions. A long-running territorial dispute over the oil-rich Essequibo region drove heightened military posturing against Guyana through 2023-2025.
Venezuela's defense budget is effectively impossible to verify with precision. Official figures are denominated in bolivars and distorted by chronic hyperinflation and multiple exchange rates. SIPRI and IISS estimate total defense outlays at $2-3 billion in 2025, derived from purchasing-power approximations and oil-sector transfers. The military controls significant economic activity directly — including portions of the oil, gold, and food distribution sectors through the FANB (Bolivarian National Armed Forces) — meaning "defense spending" substantially understates the military's resource access. US and EU sanctions imposed since 2017 on PDVSA and government officials constrain dollar-denominated procurement.
The Bolivarian National Armed Forces (FANB) comprise four branches: Army (~63,000), Navy (~25,000), Air Force (~11,500), and National Guard (~23,000), alongside the Bolivarian Militia — a paramilitary reserve of politically loyal fighters estimated at 200,000+. The Air Force operates Su-30MK2 Flanker multirole jets and F-16A/B fighters (grounded for parts shortages). The Army fields T-72B1V tanks and BMP-3 infantry fighting vehicles, both Russian-supplied. The S-300VM Antey-2500 long-range air defense system, acquired in 2012, provides the most capable air defense in South America. Equipment serviceability is broadly assessed as low due to dollar shortages and sanctions.
Venezuela's defense industry is minimal and largely state-controlled. CAVIM produces small arms, ammunition, and light vehicles. DIANCA operates a naval shipyard at Puerto Cabello capable of patrol vessel construction and maintenance. The country depends overwhelmingly on Russia and China for major weapon systems. Sanctions have severely curtailed the supply of spare parts for Russian-origin equipment, reducing operational readiness. Iran has provided technical assistance and components outside Western-controlled supply chains, including alleged drone technology transfers. No meaningful arms export sector exists.
Venezuela's primary strategic friction point is the Essequibo dispute with Guyana — a 160,000 km² region claimed by Caracas and now central to ExxonMobil's major offshore oil discoveries. A Venezuelan referendum in December 2023 endorsed annexing Essequibo; Maduro ordered military deployments to the border in early 2024. The US, CARICOM, and Brazil signaled support for Guyana, and the International Court of Justice reaffirmed Guyana's claim. The stand-off de-escalated through 2024-25 diplomatic channels but remains unresolved. Domestically, colectivo armed groups and ELN (Colombian guerrillas) operate inside Venezuelan territory with de facto government tolerance.
The Essequibo crisis peaked in January 2024 when Venezuela activated a special military zone covering the disputed territory, deploying additional Army and National Guard units. Maduro's claimed re-election in July 2024 — widely disputed as fraudulent — triggered US additional sanctions targeting military figures. Russia and China have maintained arms transfer pipelines despite pressure. In 2025 Venezuela reportedly received additional drone technology from Iran, assessed as Mohajer and Shahed variants. Venezuela's Su-30MK2 fleet conducted exercises over the Atlantic in late 2025, the first such long-range sorties in years, signaling a Russian-assisted maintenance improvement.
Estimated $2-3 billion annually, though the figure is highly uncertain due to hyperinflation, opaque oil-sector transfers to the military, and unreliable official budget data. The armed forces control significant non-budgetary economic resources including mining and food distribution enterprises.
Venezuela claims approximately 160,000 km² of Guyana called Essequibo, which contains major offshore oil reserves discovered by ExxonMobil. A 2023 referendum endorsed annexation; Venezuela deployed troops to the border in early 2024. The International Court of Justice has affirmed Guyana's jurisdiction, and the crisis de-escalated but remains unresolved.
Key systems include Russian Su-30MK2 multirole fighters, S-300VM long-range air defense, T-72B1V tanks, BMP-3 infantry fighting vehicles, and F-16A/B fighters (largely non-operational). Iran and China have supplemented Russian supplies, including drone technology. Serviceability of the fleet is broadly assessed as low due to parts shortages from US and EU sanctions.