Venezuelan President Nicolas Maduro, left, a pariah in many world capitals, has been a frequent guest of Russian President Vladimir Putin, shown here meeting outside Moscow on Dec. 5. (Maxim Shemetov / Pool photo)
L.A. Times: Russia and China, heavily invested in Venezuela, warily watch the political turmoil
Venezuela and President Nicolas Maduro have been a costly investment for Russia and China as they seek to expand their influence in Latin America. And they are determined now not to lose ground.
Moscow and Beijing are warily eyeing the events in Venezuela this week, as opposition leader Juan Guaido declared himself acting president and demanded Maduro resign. The United States, along with other nations, formally recognized Guaido as the rightful president.
Maduro, a pariah in many world capitals, has been a frequent foreign dignitary guest of Russian President Vladimir Putin and Chinese President Xi Jinping. Each time, the Venezuelan walked away with new loans and fresh cash.
Over the decade ending in 2016, China loaned Venezuela approximately $62 billion, much of which Caracas could repay with oil. Moscow in the last several years gave Venezuela $17 billion in loans and investment, and in December the two governments signed a new deal in which Russia will invest $6 billion in Venezuela’s oil and gold sectors.
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WNU Editor: China and Russia may not be happy on what is happening in Venezuela, but their options are very limited. And considering that the situation is only going to deteriorate further in Venezuela unless the current regime is removed, if I was advising Russian President Vladimir Putin or Chinese President Xi Jinping I would be telling them to start opening up back-doors to the opposition.
