US demands exclusive oil partnership, asks Venezuela to cut ties with China, Russia
[NigerianEye - Nigeria] - 7/01/2026
The United States has presented a set of preconditions to Venezuela’s interim government. Citing sources familiar with the matter, ABC News reported that the President Donald Trump administration demanded that Venezuela sever ties with China, Cuba, Russia, and Iran — with the last two countries among the world’s top 10 largest oil reserves. Second, Venezuela must agree to partner with the US exclusively on oil production and favour America when selling heavy crude oil. Estimated at 303 billion barrels as of 2024, Venezuela is home to the largest known oil reserves. The US used to be the (…)
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