TLDR though: To keep the borders they’ve had for like 100ish years, it’s a low population poorer country that is now rising in wealth due to a lot of oil in their exclusive economic zone thanks to the current borders. Their neighbor wants 2/3 of their territory, and control to the large supply of quality oil.
I would still watch the video though, was very informative.
Venezuela can just claim that it happened in Venezuelan territorial waters. It’s the China playbook and it’s not entirely invalid. Veneuzuela’s claim on the Essequibo is pretty strong, but Britain wants to avoid setting the precedent that their colonial-era borders are invalid.
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