US influence risks Venezuela debt to China
Venezuela is heading toward becoming a main battleground in the struggle between the United States and China, as the Trump administration announced plans to take control of over 65 billion barrels of Venezuelan oil reserves. This could impact billions of dollars in debt owed to China related to undrawn oil barrels. China responded modestly, emphasizing that its rights in Venezuela must be protected, as the country is set to default on debts totaling at least $10 billion by 2025. These moves are considered a threat to China's ability to recover its loans, especially after the U.S. Energy Secretary announced that Beijing would not seek returns from Venezuela’s new oil production.
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