China demands protection of Venezuelan oil interests

China has demanded that its interests in Venezuela be safeguarded following a new petroleum agreement between Caracas and Washington. Chinese Foreign Ministry spokesperson Guo Jiakun stated that the “legitimate rights and interests of China in Venezuela must be protected,” responding to reports that the deal could impact oil fields currently operated by Chinese state-owned companies, including Sinopec and CNPC.

While Beijing did not explicitly confirm changes in control, it noted the information and emphasized that China-Venezuela economic cooperation is protected by international law and the domestic laws of both nations. The Chinese government maintained that economic cooperation should be governed by principles of equality and mutual benefit.

The agreement between the United States and Venezuela involves Washington gaining control over more than 20% of Venezuelan oil reserves. The 25-year deal aims to develop 17 strategic fields containing proven reserves of 65 billion barrels of oil. This development follows a shift in relations between the Venezuelan interim government, led by Delcy Rodríguez, and the Trump administration.