Venezuela Defies US Control on China Oil Pricing
Venezuelan Ambassador to China Remigio Ceballos declared that Caracas "will not heed the arrangements of the US or other countries" regarding oil price negotiations, media reported.
"We have the right to make independent decisions," he added, emphasizing that pricing structures would align with global market dynamics rather than external directives.
The ambassador's remarks follow a Washington-led military intervention launched January 3 that resulted in the capture of Maduro alongside First Lady Cilia Flores.
Reports indicate the White House pressed Venezuela to sever economic relationships with China, Russia, Iran, and Cuba, though US President Donald Trump subsequently remarked: "China is welcome to come in and will make a great deal on oil."
In an effort to calm market concerns, Ceballos emphasized that "Chinese enterprises operating in Venezuela and investments from other nations have continued to progress as usual."
He characterized China and Venezuela as "trusted partners" whose bilateral engagement would remain immune to interference from "any third country."
China, which has secured Venezuelan crude at significant discounts, condemned the American military action and demanded Maduro's immediate release.
State-controlled media and privately held China Concord Resources Corp. are currently advancing projects in Venezuela, including a $1 billion extraction initiative targeting 60,000 barrels daily by late 2026.
American authorities have reportedly repatriated $500 million from Venezuela's initial petroleum sales and may authorize general licenses enabling crude commerce and processing operations.
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