- Expresses grave concern over US seizing Maduro
- US actions violate international law
- Calls on US to immediately release Maduro
- China is closely following the security situation in Venezuela
- China has always maintained positive communication with Venezuelan government
- On oil exports, China believes its interest in Venezuela will be protected by law
- If situation in Venezuela changes, China’s willingness to deepen cooperation will not change
The oil exports part is arguably the most interesting in all of this. For some context, Venezuela has seen its production and export capabilities crippled amid political instability and sanctions. That led to the country only pumping around 900k barrels per day in 2025. To put that in perspective, it only accounts for less than 1% of global oil supply.
In terms of crude exports, it’s lesser in the range of 768k bpd last year. And more than half of that goes to China.
As the US now takes over the situation in Venezuela, this will be one thing that will see a notable impact. Trump had previously suggested that China will continue to receive some Venezuelan oil, but the amount is likely to be limited.
Amid sanctions previously, independent refineries who were willing to take the risk didn’t have too many options besides China to work with. But if the sanctions are now lifted, it’s pretty much a free game and open market for Venezuelan crude exports.
And guess who stands to benefit the most from that? The US of course, naturally for geographical reasons.
In any case, Beijing also adds that it holds a “no interference policy” in all of this
