Russia Defends Its Oil Interests in Venezuela Against Trump’s Claims

Russia has emphatically dismissed former U.S. President Donald Trump's assertions that the United States has taken control of Venezuela’s extensive oil resources. Russian officials clarified that the oil interests established by Russian firms in Venezuela are legally owned by Russia and will proceed with operations uninterrupted.

This declaration came in light of Trump’s statements where he indicated that the U.S. would seize management of Venezuela’s oil sector in collaboration with American companies, following the imprisonment of Venezuelan President Nicolás Maduro. Trump has made serious allegations against Maduro, labeling him as a dictator.

In response, Roszarubezhneft, Russia’s state oil company, confirmed that all its Venezuelan assets are owned by the Russian government. The company emphasized that its operations adhere to Venezuelan laws, international regulations, and bilateral agreements. They reaffirmed their commitment to collaborating with Venezuelan partners.

Established in 2020 following U.S. sanctions on some sectors of the Russian oil giant Rosneft for its dealings in Venezuelan oil, Roszarubezhneft was created to safeguard Russia’s investments in the region, linked to Russia’s Ministry of Economic Development.

Russia and Venezuela have long maintained a robust partnership encompassing oil and gas projects, military collaboration, and political backing. Moscow has consistently stood by Venezuela on the global scene, supporting its administration amid external pressures.

Last year, Venezuela’s National Assembly sanctioned a 15-year extension for joint oil initiatives involving the state oil corporation PDVSA and Roszarubezhneft, which are crucial for both nations and operated in western Venezuela.

Russia’s foreign ministry has reiterated the importance of dialogue over escalating conflicts. Although President Vladimir Putin has not publicly addressed Maduro’s detention, Russian representatives have called upon the U.S. to seek peaceful avenues rather than intensify tensions.

This ongoing dispute underscores escalating rivalries surrounding energy, authority, and sway in Latin America, with Venezuela holding the world’s largest confirmed oil reserves, positioning it as a pivotal player in global energy politics. As various countries, including the U.S. and Russia, vie for influence, Venezuela stands at the core of a contentious and high-stakes geopolitical battleground.