Russia has rejected claims by US President Donald Trump that Washington now controls Venezuela’s oil resources, insisting that Russian-developed assets in the country remain the property of the Russian state. Moscow said it would continue its operations in Venezuela despite recent US actions and statements regarding control over the South American nation.
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Roszarubezhneft, a firm owned by a unit of Russia’s Ministry of Economic Development, said all its Venezuelan assets belong to Russia and are held in line with Venezuelan law, international law and bilateral agreements. The company acquired these holdings in 2020 after US sanctions were imposed on units of Rosneft for trading Venezuelan oil, prompting a transfer of assets.
Tensions have risen following Trump’s comments about controlling Venezuela’s vast oil reserves after the arrest of President Nicolás Maduro, who has pleaded not guilty to charges levelled against him by US authorities. Washington has also seized a Russian-flagged oil tanker linked to Venezuela, while Russia’s foreign ministry has called for Maduro’s release and urged dialogue.
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Russia has long maintained close political, military and energy ties with Venezuela and has consistently backed Caracas on the international stage. In November, Venezuela’s National Assembly approved a 15-year extension of joint ventures between state oil company PDVSA and Roszarubezhneft, reinforcing Moscow’s ongoing role in the country’s oil sector despite growing geopolitical strain.
