Trump wants to own Venezuela’s oil, but its largest oil customer is speeding toward clean energy
CNN••nation
Key Points:
- China, historically a major buyer of Venezuelan oil, is reducing its oil demand due to a rapid shift to electric vehicles (EVs) and renewable energy, lessening the impact of US efforts to take over Venezuela's oil sector.
- The Trump administration has pressured Venezuela to cut ties with China, Iran, Russia, and Cuba and partner exclusively with the US for oil production, a move condemned by China as "bullying" and a violation of international law.
- China leads the global EV market, with over 11 million EVs sold last year, and is expanding EV sales internationally, particularly in the Global South, signaling a long-term decline in oil demand from its transportation sector.
- While Venezuela relies heavily on China as
