Venezuela’s enormous oil reserves, the largest proven in the world at over 300 billion barrels, give it influence far beyond its domestic economy, and how this oil is produced, priced, and traded will shape both Washington’s immediate interests and the long-term balance of global power. In 2018, the Maduro government announced that it would reduce its reliance on the US dollar in oil transactions and accept payments in other currencies, including the Chinese yuan and the euro. At the same time, foreign intervention has pushed unresolved domestic pressures out of the spotlight, including renewed attention to the Epstein files, persistent concerns about inflation, the political aftermath of January 6, ongoing legal and ethical controversies surrounding the presidency, and growing public anxiety over inequality.
Author: Punch Newspapers
Published at: 2026-01-12 23:06:22
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