US Pressures Venezuela to Cut Ties with China, Russia; Demands Oil Preference

World
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CNBC TV18•07-01-2026, 10:34
US Pressures Venezuela to Cut Ties with China, Russia; Demands Oil Preference
- •US reportedly demands Venezuela prioritize oil collaboration with US and sever ties with China, Russia, Iran, and Cuba.
- •An ABC report, citing anonymous sources, indicates US pressure to expel personnel and cut commercial relations with these four nations.
- •Such a move would be a significant political realignment for Venezuela, which has depended on these countries for stability.
- •The US intends to shape Venezuela's future, funded by oil earnings, and plans meetings with US oil corporations for investment.
- •Trump announced Venezuela would supply the US with up to 50 million barrels of oil, valued at $2.8 billion, with proceeds shared.
Why It Matters: US demands Venezuela cut ties with key allies and prioritize US oil interests for political realignment.
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