Venezuela continues its transition after the Maduro era, with the United States pulling the strings. Following the military operation that removed the former Venezuelan president, Donald Trump has seized control of the country's significant oil reserves. The US plans to authorize the import of equipment, parts, and services for oil fields to increase Venezuela's oil production, which has been around 1 million barrels per day.
And it seems that the US's role in Venezuela will extend over time. President Donald Trump stated that "only time will tell" how long the US will oversee Venezuela, in an interview published by The New York Times. When asked if it would be three months, six months, a year, or more, Trump responded, "I would say much longer." "We are going to rebuild it in a very profitable way," Trump said, referring to Venezuela. Trump added that the US is "getting along very well" with the interim president Delcy Rodríguez in Venezuela at the moment.
The US will also "selectively" lift sanctions to allow the shipment and sale of Venezuelan oil to global markets, according to a plan released by the Department of Energy on Wednesday. Oil sales will start immediately with the sale of 30 to 50 million barrels from the South American country. The US government pointed out that sales will "continue indefinitely," and the revenues will be deposited in accounts controlled by the US in "globally recognized banks." The money will be distributed to populations in the United States and Venezuela "at the discretion" of the Trump administration.
China defends its cooperation with Venezuela and ensures it will continue working with Latin America
The Chinese Ministry of Commerce has defended that economic and commercial cooperation with Venezuela is protected by international law, and other countries do not have the right to interfere. China expressed its opposition to the "hegemonic" actions of the USA, expressing its willingness to deepen bilateral relations with the Caribbean country and continue working with Latin American countries.
"Economic and commercial cooperation between China and Venezuela is cooperation between sovereign states, protected by international law and the laws of both countries, and other countries do not have the right to interfere," a spokesman for the Chinese Ministry of Commerce stated at a press conference on Thursday. Regarding the recent US intervention in Venezuela, he lamented that US hegemonic actions seriously violate international law, undermine Venezuela's sovereignty, and threaten peace and security in Latin America, so China firmly opposes it.
In any case, regardless of changes in Venezuela's political situation, the Chinese official emphasized that the Asian giant's willingness to deepen bilateral economic and trade relations will remain.