US Control of Venezuelan Oil and Iran Market Risk

Even if the US manages to handle the Russia-Ukraine war atmosphere and Russian oil, as well as Venezuelan oil, returns to the world market, it is likely that Iranian oil will lose its appeal in the world market, especially for China. Trump’s explicit statements to China that “from now on, we will supply you with the oil you need” also indicate that the US is trying to fully meet China’s energy needs, even more than before.

In such a situation, Iranian oil, which was once of great importance to China, may lose its position. Of course, China’s over-dependence on Venezuelan oil, which is under US influence and domination, could ultimately harm China’s national interests.

If Venezuela’s oil is fully under the control of the United States, one of Washington’s important scenarios for controlling China’s behavior could be to intensify pressure and take harsh and hostile measures against Iran.