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venezuela oil

Venezuela's President Nicolas Maduro and Special Representative of the Chinese Government on Latin American Affairs Qiu Xiaoqi in Caracas, Venezuela, on January 2, 2026.​
Analysis

Venezuela owes China money. Will Beijing see it?

Venezuela was supposed to repay its loans from China with oil. The US blockade on Venezuela’s crude industry means that Beijing won’t see any that oil it is owed – at least for the time being.

Venezuela's President Nicolas Maduro speaks with China's President Xi Jinping.
What We're Watching

What We’re Watching: China’s claim to Venezuelan oil, UK and France willing to commit troops to Ukraine, Israel and Syria revive talks

US President Donald Trump said Tuesday Venezuela would ship up to 50 billion barrels of crude oil, worth about $3 billion, to the US. Hours later, the US energy secretary said Washington would “indefinitely” control Venezuela’s oil industry, which is currently run by the Venezuelan government.