A Chess Match for the Control of Oil
... differently from his predecessor Hugo Chávez. It is also interesting that Venezuela's oil reserves are larger than Saudi Arabia's. It should be noticed as well that the current price crisis is definitely putting the Venezuelan economy to a tough test, with the risk of default looming large. If the sanctions were to escalate, a script which has already been played more than once in the past, that might deliver the final blow. A hypothetical default would also have direct repercussion on China and Russia, which are owed important debts from Venezuela, and earlier in November consolidated a bilateral partnership concerning ...