Author Topic: Oh, great. Russia takes over Venezuela's oil industry  (Read 1311 times)

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Offline TomSea

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Oh, great. Russia takes over Venezuela's oil industry
« on: December 26, 2018, 05:21:09 pm »
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Oh, great. Russia takes over Venezuela's oil industry
Jazz Shaw Posted at 11:31 am on December 26, 2018

We already learned that Russia was sending bombers to Venezuela for military exercises and supporting the country’s imploding economy. What could Vladimir Putin have wanted in exchange? We’re probably seeing the answer come into focus as Russia moves in to “help” Venezuelan dictator Nicolas Maduro as we head into the new year. Putin is going to bail out Maduro’s failing government with some cash in exchange for establishing some measure of control over that nation’s vast crude oil reserves that are currently lying mostly dormant. (WaPo)

    As allies go, Venezuela is a relatively cheap one for Russia. But the potential returns on Moscow’s investment there could be priceless.

    In exchange for modest loans and bailouts over the past decade, Russia now owns significant parts of at least five oil fields in Venezuela, which holds the world’s largest reserves, along with 30 years’ worth of future output from two Caribbean natural-gas fields.

Read more at: https://hotair.com/archives/2018/12/26/oh-great-russia-takes-venezuelas-oil-industry/

It might be a little bit of hyperbole but still, with some truth.

Offline thackney

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Re: Oh, great. Russia takes over Venezuela's oil industry
« Reply #1 on: December 26, 2018, 05:24:47 pm »
Don't worry, Russia is not going to take over all of Venezuela's oil industry.

China will control parts of it as well.

https://www.reuters.com/article/us-venezuela-china/venezuela-sold-9-9-percent-of-joint-venture-to-china-oil-firm-maduro-idUSKCN1LY2NN
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Offline IsailedawayfromFR

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Re: Oh, great. Russia takes over Venezuela's oil industry
« Reply #2 on: December 26, 2018, 09:29:18 pm »
Good luck with all that.  Venezuela has nationalized energy twice. Which is one more time than in the ME.
No punishment, in my opinion, is too great, for the man who can build his greatness upon his country's ruin~  George Washington