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US-Venezuela Oil Deal Worth $2 Billion Sparks China's Displeasure

Published January 7, 2026, 12:13
US-Venezuela Oil Deal Worth $2 Billion Sparks China's Displeasure

Venezuela and the US have reached an agreement for the export of crude oil worth up to $2 billion, sparking strong displeasure from China, which accuses the US of bullying. Donald Trump stated that the money from the oil will be controlled by him and used for the benefit of the people of Venezuela and the US. The agreement may lead to the reallocation of cargoes intended for China, while China condemned the US move as a violation of international law and Venezuela's sovereignty. Oil prices fell in global markets due to the expected increase in supply.