Post by : Saif Rahman

Russia has categorically dismissed assertions made by former U.S. President Donald Trump that the United States has control over Venezuela’s extensive oil reserves. Officials in Russia reiterated that the oil assets operated by Russian enterprises in Venezuela are legally Russian and will remain active as before.

This declaration follows Trump’s recent comment indicating that the U.S. would take command of the Venezuelan oil sector and collaborate with American companies there. His remarks were made in light of the imprisonment of Venezuelan President Nicolás Maduro, whom he has accused of committing serious offenses, labeling him a dictator.

In reply, the Russian state-owned oil entity Roszarubezhneft clarified that all its Venezuelan assets are state property. The company emphasized that its operations adhere to Venezuelan laws, international standards, and the agreements established between Russia and Venezuela. It further confirmed its commitment to working alongside its partners in Venezuela.

Roszarubezhneft was established in 2020 following sanctions from the U.S. against certain sectors of Russia's oil firm Rosneft for its dealings in Venezuelan oil. To safeguard its interests, Russia redistributed its Venezuelan oil assets to this new entity, which is affiliated with the country’s Ministry of Economic Development.

Russia and Venezuela have maintained a close alliance for several years, encompassing oil and gas initiatives, military collaboration, and political backing. Moscow has frequently offered defense for Venezuela on international platforms, supporting its regime during adversities from Western powers.

Last year, Venezuela's National Assembly ratified a 15-year extension of joint oil ventures involving the state oil firm PDVSA and Roszarubezhneft. These ventures exploit oil fields in western Venezuela and are deemed vital for both nations.

The Russian foreign ministry has also advocated for dialogue over conflict. While President Vladimir Putin has not publicly commented on Maduro’s detention, Russian officials have urged the U.S. to refrain from escalating tensions and to pursue peaceful resolutions.

The contention underscores escalating tensions regarding energy, authority, and influence in Latin America. With the world’s largest proven oil reserves, Venezuela is a pivotal player in global energy geopolitics. As the U.S., Russia, and other nations vie for dominance, Venezuela stands at the epicenter of a multifaceted and critical power struggle.

#Business News