China's Oil Deal With Venezuela Faces Turning Point
China and Venezuela are renegotiating terms of their extensive oil-for-loans agreements, marking a pivotal moment in a decade-long economic partnership. The original deal, forged during the commodity boom, provided Beijing with steady oil supplies while Caracas secured billions in infrastructure funding. However, Venezuela's plummeting production and political instability have strained the arrangement. Analysts suggest Beijing is now pushing for repayment guarantees and more favorable terms, possibly seeking greater control over Venezuelan oil assets. This renegotiation reflects broader shifts in China's global energy strategy as it balances geopolitical interests with financial pragmatism. The outcome could reshape energy flows between the two nations and influence Venezuela's struggling economy.
