Venezuela's President Nicolás Maduro made a significant move on Tuesday by ordering the establishment of a new state called "Guayana Esequiba." This decision comes in the wake of a controversial Sunday referendum, where Venezuelan voters approved the annexation of land from neighboring Guyana.

The disputed region, known as the Essequibo, is a densely forested area rich in oil. Taking up approximately two-thirds of Guyana's national territory, it has been a subject of contention between the two countries for a long time. Venezuela has consistently disputed the boundaries set by international arbitrators in 1899.

The creation of "Guayana Esequiba" was announced by President Maduro during a session with legislators on Tuesday. He presented a "new map" of Venezuela that incorporates the disputed territory and declared that all residents of the area would be granted Venezuelan nationality. Maduro stated that this map would be distributed throughout schools and public buildings across the country.

In addition to the establishment of the new state, President Maduro signed a "presidential decree" to create the "High Commission for the Defense of Guayana Esequiba." This commission is tasked with defending the interests of the region and overseeing the approval of licenses for oil, gas, and mining exploration. To manage the activities in the disputed area, the state oil company PDVSA has been instructed to set up a special department called "PDVSA-Esequibo," which will commence operations immediately.

Maduro also took measures to further assert Venezuela's control over the disputed territory. He requested legislators to draft a law that would ban the hiring of any companies that have previously worked with Guyana in areas of disputed water. Moreover, companies currently operating in the region have been given a three-month deadline to vacate. Additionally, a census will be conducted among the residents of the territory to facilitate the attribution of Venezuelan nationality.

The United States, through State Department spokesperson Matthew Miller, reiterated its stance on the border dispute, urging Venezuela and Guyana to seek a peaceful resolution. The 1899 ruling, which determined the land boundary between the two nations, continues to be viewed as valid by the US.

Guyana, which has seen a rapid transformation since the discovery of oil off its coast in 2015, views Venezuela's annexation plans as an existential threat. With over $1 billion in annual government oil revenue fueling major infrastructure projects, Guyana is on track to surpass Venezuela's oil production and become the world's highest per capita oil producer.

Analysts have expressed concern over the potential ramifications of this move by Maduro. Comparisons have been drawn to Russian President Vladimir Putin's actions in Ukraine, suggesting that Maduro's territorial ambitions may be inspired by defiance of international norms. Venezuelan opposition member Maria Corina Machado has recently gained momentum by criticizing Maduro's handling of the economic crisis in the country.

President Maduro stands to gain politically from the result of Sunday's controversial referendum, as he faces a challenging re-election campaign. Analysts suggest that the creation of "Guayana Esequiba" allows Maduro to rally support and divert attention from Venezuela's internal issues.

As international tensions rise and with the border dispute escalating, the situation between Venezuela and Guyana remains complex and unresolved. The search for a peaceful resolution continues, as both countries grapple with the economic and political consequences of their actions.