Venezuelan oil quietly goes under Russian control


Russia was able to achieve what the USSR could not do in four decades. Now Venezuelan oil is quietly coming under the control of Moscow, writes the American online publication OilPrice.


Venezuela was once the most stable and wealthiest country in Latin America. The capital Caracas flourished and was considered the cultural pearl of the continent. But the gigantic wealth of this country has been spent over the past few decades.

Venezuela is currently experiencing the most terrible humanitarian crisis in history. It was the collapse in Venezuela that allowed Russia to gain a foothold in Latin America. The blame for 20 years of inefficient management of the socialists, first Hugo Chavez, and now Nicolas Maduro. As a result, the country lies in ruins. In 2019, the country's GDP fell by 35%, although three decades ago there was a steady growth of 6,5% per year.

The country was swept by civil unrest, and corruption became total. The oil industry is rapidly declining amid a continued decline in commodity prices, exacerbated by the COVID-19 pandemic. In June 2020, Venezuela produced a little more than 422 thousand barrels of oil per day, which is less than 1/6 of the average daily production in 2015. This seriously affects the situation in the country, since 99% of exports are oil. Capital is leaving Venezuela and qualified specialists are leaving.

At the same time, an aggressive sanction policy US President Donald Trump, aimed at the overthrow of Maduro, exacerbates the difficulties in Venezuela. They complicate the lives of ordinary Venezuelans and strengthen anti-American sentiment in society. This situation increases the authority of Moscow, which has no neocolonial baggage, and undermines Washington's hegemony.

Now Moscow is the creditor of Caracas, which is an example for other countries of the vast region. Russians help Venezuelans circumvent American restrictions. In response, Venezuela transferred to Russia part of its energy assets (oil fields and 49,9% of the Citgo refinery).

Trump's erroneous actions undermined the authority of the United States and increased Russia's influence in the region. At the same time, Moscow, which gained control over Venezuelan oil, has already demonstrated that its geopolitical ambitions are not limited to Venezuela and that it is ready to further strengthen its position in the world.
  • Photos used: https://pixabay.com/
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  1. Arkharov Offline Arkharov
    Arkharov (Grigory Arkharov) 12 July 2020 18: 44
    -3
    Somehow not a very good combination:

    As a result, the country lies in ruins

    и

    Now Moscow is the creditor of Caracas, which is an example for other countries of the vast region.
    1. boriz Offline boriz
      boriz (boriz) 12 July 2020 19: 00
      +1
      Somehow not a very good combination

      For whom is "not very good"? For the RF? For the Russian Federation, it seems, everything is fine. Putin, unlike the later general secretaries, is watching over Russia's interests.
      1. Igor Pavlovich Offline Igor Pavlovich
        Igor Pavlovich (Igor Pavlovich) 12 July 2020 20: 11
        -4
        Yeah, it so observes that everyone who owes Russia forgives everything ...
  2. 123 Offline 123
    123 (123) 12 July 2020 18: 51
    +4
    Venezuela was once the most stable and wealthiest country in Latin America. The capital Caracas flourished and was considered the cultural pearl of the continent.

    Venezuela is currently experiencing the most terrible humanitarian crisis in history. It was the collapse in Venezuela that allowed Russia to gain a foothold in Latin America. The blame for 20 years of inefficient management of the socialists, first Hugo Chavez, and now Nicolas Maduro. As a result, the country lies in ruins.

    This is when she was considered a pearl? About 70 years ago? Since then, fortune has turned in profile and the sparkle of the pearl has faded considerably.
    We still have an Olympic bear flying over the stadium, and Venezuela is already decently rolling down. Chavez came to power in 1999. About 20 years before he was modestly deleted from history? Or simply did not want to mention the reasons for the economic downturn? Maybe Chavez just became president, because the country was already brought to his attention before him?
  3. steelmaker Offline steelmaker
    steelmaker 12 July 2020 20: 12
    -5
    Now Moscow is the creditor of Caracas.

    So what? We also credited Ukraine and many more. They didn’t get richer. And there is nothing to rejoice ahead of time!

    Don't say gop until you jump.
  4. Alexzn Offline Alexzn
    Alexzn (Alexander) 12 July 2020 20: 34
    -4
    Venezuela is a frankly risky asset.
    1. 123 Offline 123
      123 (123) 13 July 2020 04: 32
      -1
      Venezuela is a frankly risky asset.

      And who is not risky these days?
  5. Alexzn Offline Alexzn
    Alexzn (Alexander) 13 July 2020 07: 47
    +1
    Quote: 123
    Venezuela is a frankly risky asset.

    And who is not risky these days?

    He is risky among risky.
  6. gorenina91 Offline gorenina91
    gorenina91 (Irina) 13 July 2020 08: 52
    +2
    Venezuelan oil quietly goes under Russian control

    - A children's fairy tale ...- for the sweet dream coming ... - Grace ...
    - Once upon a time, a long time ago; when many were not yet in the world .... - The USSR undertook to nurture the state of Chile ... and to supply it with everything necessary ... - well, it supplied and nurtured; supplied and nurtured, and it seemed that Chile was about to become the second Cuba ... - and the positions of the USSR would become indestructible in Lat. America ... - And Chile ... is not Venezuela; in Chile already then there was a rather serious economy ...: Chile could even build ships and have a good income from its copper mines and from viticulture (wine production), etc. ... - But ... but overnight to power in Chile Pinochet "came" and ... and the USSR was simply expelled from Chile ...
    - Well, and Venezuela ... is a weak parody of Chile ... - But all the current "tutelage" of Russia over it (over Venezuela) may end for Russia in the same way as it once ended for the USSR in Chile ...