In 2017 Caracas awarded licenses to Russian oil giant Rosneft for the development of two offshore gas fields, via Reuters.
Zero Hedge: This Russian Oil Giant Is Driving Putin Toward Showdown With Trump In Venezuela
“Russia is now so deeply invested in the Maduro regime that the only realistic option is to double down,” writes senior fellow at the Carnegie Moscow Center Alexander Gabuev.
He details in a Financial Times op-ed that Moscow-based state oil giant Rosneft owns two offshore gas fields in Venezuela and further has "stakes in assets boasting more than 20m tonnes of crude." But as embattled President Nicolas Maduro faces US-led efforts to oust him in favor of opposition leader Juan Guaido, billions are on the line for Moscow making its interest in preserving the regime run deep.
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WNU Editor: Russia has tens of billions on the line in Venezuela and on President Maduro. But IMHO they are going against history on this one. Everything is dependent on Venezuela paying off its debts to Russia by exporting oil. But with oil production in decline because there has been little if any investment in supporting its infrastructure, this is one business deal that is not going to work out.
