🎰 China hedges, Semilla splinters

DIPLOMACY

China no longer willing to lend money to Venezuela

Amid growing isolation in the West following his fraudulent 2024 re-election, Venezuelan President Nicolás Maduro turned to US rivals China and Russia in a bid to keep his government afloat. 

While part of the Trump government in the US is pushing for stiffer sanctions and has threatened higher tariffs for any country that buys Venezuelan oil, Beijing has reportedly continued to ship tankers from its South American ally, and 90% of Venezuela’s total oil exports are now believed to be destined to China, up from 75% earlier this year.

However, while the Maduro regime is eager to deepen its friendship with the Asian giant, Beijing has grown skeptical of Venezuela and is now taking a more cautious approach in some respects…

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