Russia-Venezuela ties are in danger of crumbling
Letter from Caracas: Venezuela and Russia’s fragile oil ties at risk
Moscow’s influence over Caracas uncertain amid upcoming elections and a shift in approach from Washington
Russia has long regarded Venezuela as a geopolitical chess piece, especially in terms of the energy sector, but the recent change in approach from Washington may lead to a breaking point in Moscow’s relationship with Caracas. The Biden administration’s decision to grant Chevron a licence to restart its frozen production in Venezuela was a game-changing move. The ties between Washington and Caracas are clearly in very different shape now to how they were during the government of Hugo Chavez, especially in the context of the war in Ukraine and the changing nature of global oil markets, within which Venezuela could again play an important role as a supplier to the US. Much depends on the politi
Also in this section
1 August 2025
A number of companies have filed arbitration claims against Gazprom over non-deliveries of contracted gas or other matters—and won. The next step is to collect the award; this is no easy task but it can be done thanks to an international legal framework under the New York Convention.
1 August 2025
Europe’s refining sector is desperately trying to adapt to a shifting global energy landscape and nowhere is this more apparent than in its largest economy
1 August 2025
The Middle East natural gas playbook is being rewritten. The fuel source offers the region a pathway to a cleaner, sustainable and affordable means of local power, to fasttrack economic development and as a lucrative opportunity to better monetise its energy resources.
31 July 2025
TotalEnergies is an outlier among other majors for remaining committed to low-carbon investments while continuing to replenish and expand its ample oil and gas portfolio, with an appetite for high risk/high return projects.
