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Xi 'Enters' Trump Vs Maduro 'War': Venezuela's Chinese Oil Shock To U.S. After J-10C Jet 'Deal'
| Sep 08, 2025, 11:29:31 PM | TOI.in
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In a bold move that defies U.S. sanctions, China has deployed its first floating oil production facility to Venezuela’s Lake Maracaibo. The billion-dollar rig, operated by China Concord Resources Corp (CCRC), is part of an effort to revive Venezuela’s crippled oil industry and ramp up output from key fields like Lago Cinco and Lagunillas Lago. As U.S. sanctions continue to isolate Maduro’s regime, Beijing is stepping in with infrastructure, investment, and skilled workers. Is this the beginning of a new China–Venezuela oil axis? And how will Washington respond?
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