In Venezuela, it’s all about the oil.
Just as senior administration officials have spoken openly about gaining control of Venezuela s vast oil reserves as a goal of U.S. policy, so Russia’s actions are driven by petroleum politics.
The difference: the Trump administration is pursuing a policy of regime change, while the Russians are trying to preserve their position.
From the Reuters news service:
Russia’s policy on Venezuela is heavily influenced by Igor Sechin, the head of Rosneft, Russia’s national oil company. It is not only owed $3bn by Caracas, but also owns two offshore gasfields in the country and stakes in assets boasting more than 20m tonnes of crude.
Reuters, a reliable source, reported last week that the Venezuelan opposition has succeeded in ousting the pro-Maduro CEO of Citgo, the U.S.-based subsidiary of Venezuela’s state-owned oil firm, Petroleos de Venezuela (PDVSA).
Gaining control of the Citgo board, said Reuters, constituted “a crucial early victory for the country’s rising opposition government.”
But the failure of the opposition’s gambit to force “humanitarian aid” into the country signals a deepening struggle, a struggle over Venezuela’s oil.
