Russia counters Trump's assertion over oil in Venezuela

MOSCOW: Oil assets that Russia develops in Venezuela belong to Russia, which will continue working there, Moscow said on Tuesday, after U.S. President Donald Trump's claims of control over the South American country.

AI Brief

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Russia's Roszarubezhneft firm said that all the company's assets in Venezuela were the property of Russia and it would stick to its commitments to international partners there, TASS news agency reported.

Roszarubezhneft, owned by a unit of the Russian Ministry of Economic Development, was incorporated in 2020 and soon afterwards acquired the Venezuelan holdings of Russian state-run oil company Rosneft after Washington imposed sanctions at the time on two Rosneft units for trading Venezuelan oil.

All Roszarubezhneft assets in Venezuela "are the property of the Russian state," in compliance with the laws of Venezuela, international law and agreements between the two countries, it said in a statement, according to TASS.

PUTIN HASN'T PUBLICLY COMMENTED ON MADURO CAPTURE

Trump has openly spoken of controlling Venezuela's vast oil reserves, the world's largest, in conjunction with U.S. oil companies, after arresting and jailing Venezuelan President Nicolas Maduro, whom he has described as a drug-trafficking dictator in league with Washington's foes.

Maduro has pleaded not guilty.

The U.S. has also seized a Venezuela-linked, Russian-flagged oil tanker after a weeks-long pursuit.

Russian President Vladimir Putin has not commented publicly on the U.S. operation in Venezuela but Russia's foreign ministry has urged Trump to release Maduro and called for dialogue.

Russia has long maintained close ties with Venezuela, spanning energy cooperation, military links and high-level political contacts, and Moscow has backed Caracas diplomatically for years.

In November, Venezuela's National Assembly approved a 15-year extension of the joint ventures between state company PDVSA and a unit of Russia's Roszarubezhneft that operate two oilfields in the South American country's western region.