The Venezuelan opposition leader Juan Guaido has made a grave mistake in relation to the Arab world by announcing his readiness to relocate the embassy to Jerusalem, Venezuelan Ambassador to Amman Omar Vielma Osuna said.

"An illegitimate government headed by Guaido is now formed. And they have committed an unforgivable mistake by saying that they would open an embassy in Jerusalem. The Arab world revolted against this idea," the ambassador said.

According to Osuna, Venezuela's new economic model is aimed at showing the United States that Caracas, together with its partners in the Arab world, is able to stand up to the US economy.

"The new economic model of Venezuela implies working with gold, metals and other products, so we want to change the economic policies in the world and show the world that we, together with our colleagues in the Arab region, can resist the US economy," the ambassador added.

Last month, Guaido announced plans to restore ties with Israel and did not rule relocating the embassy as a move to normalize bilateral relations frozen by Caracas in 2009 over Gaza killings.