In a few days, the escalation between Washington and Caracas assumed the appearance of military confrontation. On the American side: deployment of buildings from the Navy against Venezuela, arrival of a nuclear attack submarine, patrols F-35. And Donald Trump says that the United States is now “in armed conflict with drug posters.” Venezuelan Side: Mobilization of millions of reservists and muscle speeches by Nicolas Maduro, determined to swing the state of emergency.
The largest gasoline reserves in the world
Beyond drug trafficking, oil is the problem that concentrates all regional tensions. Venezuela has the largest proven reserves in the world, 303 billion barrels, more than Saudi Arabia (267 billion). An essential part of these resources is in the L’Onqueque belt, a territory 600 km long by 70 km wide. Its basements contain more than 200 billion barrels.
Before the Chávez era, the great specialties (Exxonmobil, Chevron, BP, Total, Conoco, etc.) were very active in Venezuela, often through joint companies with the public company PDVSA. But the arrival of Hugo Chávez in 1998 changed the game. Chosen in an anti -imperialist line, federal federal axis and firing red balls in the United States. Until 2007, international companies maintained their activities, but in an increasingly restrictive framework.
Political tause of the oil sector in 2007
The turning point occurs on May 1, 2007. From the L’Onqueque belt, Hugo Chávez announces the political acquisition of the oil sector. In a stadium, he argues a multitude of cheers:
From there, the elders lose their hands. Forced to become a minority into projects, the supervision of PDVSA is overcome. Today, no more of them operates in Venezuela, with the exception of Chevron, still present, but subject to strong pressures and restrictions imposed by Washington.
Venezuela: Financial rope is tense
In Washington, the affront is considered intolerable. In 2015, Barack Obama signed Decree 13692, calling Venezuela “unusual and extraordinary threat” for American national security. The sanctions are raining: however, financial restrictions, commercial pressures. Objective: Safoca Nicolás Maduro and his followers and promote a more favorable diet change in the United States.
But Maduro, which has become the black branch of the White House, still remains. Today, American justice accuses him of complicity with cocaine traffic, offering a record premium of $ 50 million for his capture. Unheard of a head of state in practice.
The pivot to Moscow and Beijing
Asphyxiated by the American vice, Caracas resorts to new allies. China remains the first creditor in Venezuela: more than $ 100 billion in loans, often reimbursed in oil barrels. Beijing financed routes, housing, prey and maintains a central position in the Venezuelan economy. Beijing, who has set foot in this area of American influence, is now shown in the open support of Caracas. Like the Chinese spokesman of the Ministry of Foreign Affairs, Guo Jiakun, last Tuesday:
Russia plays the military letter. Moscow delivered weapons, sent advisors, deployed S-300 defense systems and formed Venezuelan Units. In 2019, the wagner group mercenaries even mobilized to ensure the regime. More recently, Caracas organized joint exercises with Moscow: 2,500 deployed soldiers, Sukhoï SU-30 equipped with anti-navirs missiles, outside the Caribbean.
Cooperation is now formalized: in September 2025, the Venezuelan National Assembly ratified a Treaty of Strategic Association and Cooperation with Russia, strengthening political, economic and military links. But these followers only exacerbate Washington’s anger. Donald Trump promised to impose punitive taxes on countries that buy Venezuelan oil, a direct threat to Beijing members in Moscow, through New Delhi.
Source: BFM TV
