Trump's Venezuela oil plan may clash with China debt
AP News••world
Key Points:
- President Trump asserts control over Venezuelan oil, much of which is tied to China through longstanding contracts, complicating U.S.-China relations ahead of his planned visit to Beijing.
- China is owed at least $10 billion by Venezuela, with major state-owned enterprises entitled to billions of barrels of oil, raising questions about debt legality under the interim Venezuelan government aligned with Washington.
- The U.S. has seized Venezuelan oil tankers and plans to manage oil sales directly, aiming to reduce foreign influence in the Western Hemisphere and funnel proceeds back to benefit Venezuelans.
- China condemned the U.S. capture of Maduro, affirming its commitment to economic ties with Venezuela despite political changes, but experts doubt Beijing’s ability to counteract
