US allows China to purchase Venezuelan oil but not at 'undercut' prices of Maduro days, official says
Source: Reuters
US allows China to purchase Venezuelan oil but not at 'undercut' prices of Maduro days, official says
By Timothy Gardner
Thu, January 22, 2026 at 2:25 PM EST
2 min read
WASHINGTON, Jan 22 (Reuters) - The Trump administration is allowing China to purchase Venezuelan oil but not at "unfair, undercut" prices at which Caracas sold the crude before the U.S. removed President Nicolas Maduro, a U.S. official said on Thursday.
While the oil will be sold in the global marketplace, the administration has required that the majority be sold to the United States, the administration official said on condition of anonymity. The U.S. says it will control Venezuela's oil sales indefinitely after seizing Maduro on January 3.
"Thanks to President (Donald) Trump’s decisive and successful law enforcement operation, the people of Venezuela will collect a fair price for their oil from China and other nations rather than a corrupt, cheap price," the official said.
China has been Venezuela's top oil buyer for years, and the sales helped Caracas repay massive loans to Beijing in debt-for-oil deals.
-snip-
Read more: https://www.yahoo.com/news/articles/us-allows-china-purchase-venezuelan-192534279.html
= new reply since forum marked as read
