Venezuela guaranteed that it will comply with oil agreements established with China and Russia. The Venezuelan minister of Hydrocarbons stated that Chinese and Russian companies will continue to operate in the South American country, thus ensuring the continuity of existing energy partnerships.
This guarantee comes in a context of geopolitical tension, after Venezuela reached an agreement with the United States. According to the article, the agreement with Washington allows the USA to exploit approximately one-fifth of Venezuelan oil reserves.
Venezuela's position demonstrates the intention to maintain balance between its relations with rival powers. While strengthening ties with the United States in the energy sector, the Venezuelan government also seeks to preserve the commitments already made with China and Russia in the hydrocarbons domain.
