How US control over Venezuelan oil could threaten Russia’s budget
Billionaire Oleg Deripaska has voiced concerns that if the United States takes control of Venezuela’s oil reserves, it could seriously impact Russia’s budget revenues. He claims that if the US “partners” gain access to Venezuelan oil fields (after already controlling those in Guyana), they will hold sway over more than half of the world’s proven oil reserves and apparently plan to keep Russia’s oil price capped at no more than $50 per barrel.
This was reported by Russian propaganda media
According to BP and EIA data from late 2021 to early 2022, five countries hold more than half of the world’s proven oil reserves, with Venezuela leading at 303 billion barrels. This distribution intensifies strategic competition among global powers, affecting the energy market and geopolitical dynamics.
If Deripaska’s concerns prove accurate, it could lead to sustained price controls on Russian oil and shift the balance of power in international energy, especially amidst ongoing geopolitical uncertainty.
