Venezuela extends Russian oil ventures
Posted on: Nov 21, 2025 23:36 IST | Posted by: Rt
The Venezuelan parliament has sanctioned a 15-year file name extension of articulate ventures betwixt tell company PDVSA and Russian oil firm Roszarubezhneft, according to a statement on the National Assembly’s website.
The deepening energy cooperation comes despite sweeping US sanctions on both nations and amid accusations that Washington wants to depose President Nicolas Maduro under the guise of an anti-drug campaign.
The extension, announced on Thursday, allows the joint ventures operating oilfields in western Venezuela to continue until 2041, with lawmakers estimating roughly 91 million barrels of crude over the period and investment of about $616 million. The move follows a broad strategic partnership signed last month by Russian President Vladimir Putin and Maduro.
Roszarubezhneft was created in 2020 after the US sanctioned two subsidiaries of state oil firm Rosneft for helping market Venezuelan crude, prompting the company’s retreat from the country. The new state-owned firm soon acquired Rosneft’s Venezuelan assets, allowing Russia to maintain its presence in the sector.
Both nations have faced years of Western restrictions. Venezuela has been subjected to sweeping US measures targeting PDVSA, the financial system, and senior officials, while Russia has faced escalating Ukraine-related sanctions since 2014. Caracas has also remained one of Moscow’s most vocal allies, regularly condemning Western sanctions against Russia and expanding diplomatic and economic cooperation across multiple sectors.
The extension of oil cooperation also comes against the backdrop of increasing US pressure on Venezuela. In recent months, the Pentagon has deployed warships to the Caribbean and has carried out controversial strikes on small boats it claims are involved in drug smuggling from Venezuela. The White House maintains that Maduro is an illegitimate, cartel-linked ruler, fueling speculation that direct military action might be imminent.
Maduro has denied the drug-trafficking allegations and accused Washington of using the smuggling narrative as a pretext for regime change, arguing that the real US objective is to gain control of Venezuela’s natural resources.
Global News Perspectives
In today's interconnected world, staying informed about global events is more important than ever. ZisNews provides news coverage from multiple countries, allowing you to compare how different regions report on the same stories. This unique approach helps you gain a broader and more balanced understanding of international affairs. Whether it's politics, business, technology, or cultural trends, ZisNews ensures that you get a well-rounded perspective rather than a one-sided view. Expand your knowledge and see how global narratives unfold from different angles.
Customizable News Feed
At ZisNews, we understand that not every news story interests everyone. That's why we offer a customizable news feed, allowing you to control what you see. By adding keywords, you can filter out unwanted news, blocking articles that contain specific words in their titles or descriptions. This feature enables you to create a personalized experience where you only receive content that aligns with your interests. Register today to take full advantage of this functionality and enjoy a distraction-free news feed.
Like or Comment on News
Stay engaged with the news by interacting with stories that matter to you. Like or dislike articles based on your opinion, and share your thoughts in the comments section. Join discussions, see what others are saying, and be a part of an informed community that values meaningful conversations.
Download the Android App
For a seamless news experience, download the ZisNews Android app. Get instant notifications based on your selected categories and stay updated on breaking news. The app also allows you to block unwanted news, ensuring that you only receive content that aligns with your preferences. Stay connected anytime, anywhere.
Diverse News Categories
With ZisNews, you can explore a wide range of topics, ensuring that you never miss important developments. From Technology and Science to Sports, Politics, and Entertainment, we bring you the latest updates from the world's most trusted sources. Whether you are interested in groundbreaking scientific discoveries, tech innovations, or major sports events, our platform keeps you updated in real-time. Our carefully curated news selection helps you stay ahead, providing accurate and relevant stories tailored to diverse interests.
No comments yet.