U.S. takeover threatens China’s oil-backed loans
The battle over Venezuela's vast energy reserves has entered a dramatic geopolitical phase. A new deal grants the U.S. operational access to oilfields containing 65 billion barrels, displacing assets previously operated by Chinese and Russian energy firms. The move jeopardizes billions of dollars in oil-backed loans extended by Beijing and hinders efforts to expand yuan-denominated oil trade. Watch for a detailed breakdown of how Venezuela has become the frontline in the U.S.-China resource battle.
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