US EditionUS control of Venezuela oil risks debt restructuring showdown with China
14 Articles
14 Articles
Why China and Russia will not simply walk away from Venezuela
As Venezuela enters a post-Maduro phase, a common assumption in Washington is that China and Russia will gradually be pushed out. The logic seems straightforward. With U.S. power reasserted and a new interim leadership in Caracas, foreign rivals should lose leverage. In practice, this view underestimates how deeply both Beijing and Moscow are embedded in Venezuela and misreads how they are likely to adapt. Neither China nor Russia is preparing f…
Former Director of PDVSA: Trump's Oil Viceroyalty Over Venezuela Is Fantasy (Interview)
Several weeks after the kidnapping of President Nicolás Maduro by US forces, Donald Trump announced plans to “market” Venezuelan crude oil through US oil corporations such as Vitol, Trafigura, and Chevron. He promises the return of ExxonMobil and ConocoPhillips to Venezuela, talks about “confiscating” 50 million barrels of Venezuelan oil in storage, and proposes a scheme in which the United States would control Venezuela’s oil exports. The quest…
By Reuters U.S. control over Venezuela's oil exports caught barrels destined for the payment of the debt with China, which raises another possible confrontation between the two superpowers that could further complicate the South American country's way out of default. It is estimated that about one tenth of Venezuela's foreign debt, amounting to US$ 150 billion, corresponds to loans from China that the member of the Organization of Petroleum Expo…
U.S. control over Venezuela’s oil exports dismantled barrels that covered debt service with China, which could lead to another confrontation between the two superpowers that could further complicate the country’s exit from default. It is estimated that about one tenth of China’s $150 billion foreign debt corresponds to loans, which the government paid in oil shipments, until the U.S. arrested Nicolás Maduro on January 3. Debt experts claimed tha…
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