Yahoo Finance | EN590 Commodities
EN590 Commodities GroupCrude Oil 2026-09-04T00:00:00+00:00
For decades, Venezuela has been one of China's most important partners in Latin America and the largest recipient of Chinese government funds in Latin America, with Beijing lending Caracas tens of billions of dollars and acceptingoil as repayment. Chinese policy banks provided it with at least $60 billion in oil-backed financing through 2015, while broader estimates of Chinese lending and investment commitments exceed $100 billion. Analysts estimate that Caracas still owes Chinese lenders at least $10 billion. Recovering that money was never going to be easy, but Trump's new arrangement for Venezuelan oil will make it even more challenging for Beijing because a sizable chunk of the country's future oil production will now be under the control of U.S.-aligned interests. Last week'smultibill
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