The United States has confirmed that it is allowing China to purchase Venezuelan oil, but under stricter conditions that rule out what Washington describes as unfairly low prices previously offered by Caracas.
A senior US administration official said on Thursday that President Donald Trump’s government would permit Chinese purchases of Venezuelan crude, provided they reflect what the United States considers fair market value. The official, who spoke on condition of anonymity, said recent enforcement actions by the Trump administration were aimed at ensuring that Venezuela’s oil revenues benefit the Venezuelan people rather than being sold at what he described as corrupt, discounted rates.
According to the official, the new approach is intended to prevent Venezuela from selling crude cheaply to foreign buyers, including China, and to ensure greater transparency and fairness in oil transactions involving the country’s key natural resource.
China has sharply criticized Washington’s broader policy toward Venezuela’s oil sector. Earlier, Chinese Foreign Ministry spokesperson Mao Ning condemned US plans to intervene in Venezuela’s energy industry, accusing Washington of abusing its power and violating international law.
Mao said that the United States’ actions, including attempts to dictate how Venezuela manages its oil resources under an “America First” principle, amount to provocation and undermine the rights and interests of the Venezuelan people.
The issue highlights continuing tensions between Washington and Beijing over energy security, sanctions policy and influence in Latin America, as well as the broader geopolitical implications of Venezuela’s vast oil reserves.
Follow the latest news on Google News
