Carnegie Endowment Events

Venezuela has the world’s largest oil reserves, and the United States and China are the world’s largest oil importers, yet Venezuela’s relations with Beijing and Washington couldn’t be more different. China has built a massive state-to-state, loans-for-oil relationship with Venezuela, while U.S. oil imports from the country continue to decline as diplomatic ties further fray. All of this is taking place against a background of rising Chinese influence in Latin America and renewed U.S. diplomatic and energy initiatives with Cuba and throughout the region.