Russia has strongly opposed former U.S. President Donald Trump’s assertion that the United States is now in control of Venezuela’s extensive oil reserves. Officials from Russia declared that the oil assets developed by Russian companies in Venezuela legitimately belong to the Russian state and will continue their operations unimpeded.
This response follows Trump’s statement indicating that the U.S. would seize control of Venezuela’s oil sector and collaborate with American firms. His comments came after the arrest of Venezuelan President Nicolás Maduro, whom Trump has criticized for serious allegations and labeled a dictator.
In its statement, Roszarubezhneft, the state-owned oil company, highlighted that all of its holdings in Venezuela are state-owned, abiding by Venezuelan laws, international standards, and bilateral agreements. The company confirmed its commitment to ongoing collaborations with Venezuelan partners.
Roszarubezhneft was established in 2020 following U.S. sanctions imposed on segments of Russia’s oil giant Rosneft for trading in Venezuelan oil. To safeguard its interests, Russia reassigned its Venezuelan oil assets to this new company, which is affiliated with the Ministry of Economic Development.
Russia and Venezuela’s partnership spans several years, involving oil and gas initiatives, military alliances, and political backing. Moscow has consistently supported Venezuela in international arenas, particularly during periods of pressure from Western nations.
Last year, Venezuela’s National Assembly sanctioned a 15-year extension of collaborative oil projects between PDVSA, the national oil firm, and Roszarubezhneft. These ventures operate critical oil fields in western Venezuela, significant for both countries.
Russia’s foreign ministry has advocated for dialogue over confrontation, and although President Vladimir Putin has yet to publicly address Maduro's arrest, Russian officials have encouraged the U.S. to prioritize peaceful solutions over escalating tensions.
This disagreement underscores rising tensions around energy resources and geopolitical influence in Latin America. Home to the world’s largest verified oil reserves, Venezuela is a strategic focal point in global energy dynamics as the U.S., Russia, and other nations vie for power and influence, placing Venezuela at the heart of a complex and high-stakes confrontation.
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Russia asserts its oil interests in Venezuela are state-owned, countering Trump's assertions of U.S.
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