Russia on Tuesday rejected claims from U.S. President Donald Trump about controlling Venezuelan oil assets, saying that oil holdings developed by a Russian state company in Venezuela remain the exclusive property of Russia and will continue to be operated as such.
Russian Firm Asserts Ownership
Roszarubezhneft, a company owned by a unit of the Russian Ministry of Economic Development, issued a statement reported by the TASS news agency saying all of its assets in Venezuela are “the property of the Russian state” under Venezuelan law, international law and agreements between the two nations. The firm took over Venezuelan holdings of the former Russian state oil company Rosneft in 2020 after U.S. sanctions targeted Rosneft’s Venezuelan operations.
As reported in Reuters, the company said it will honor its commitments to international partners in Venezuela and continue its work there, underlining Moscow’s intention to maintain a presence in the South American country.
Trump’s Comments on Venezuelan Oil
Trump has publicly spoken about controlling Venezuela’s vast oil reserves—considered the largest in the world—alongside U.S. oil companies following the capture and imprisonment of Venezuelan President Nicolás Maduro, whom the U.S. has labelled a drug‑trafficking dictator allied with American adversaries. Maduro has pleaded not guilty.
The Trump administration has also seized a Russia‑linked, Venezuela‑associated oil tanker during a weeks‑long pursuit, underscoring tensions over oil access and control in the region.
Moscow’s Diplomatic Stance
Russian President Vladimir Putin has not publicly commented on the U.S. operation in Venezuela, but Russia’s foreign ministry has urged Trump to release Maduro and called for dialogue between the countries. For years, Russia has maintained close diplomatic, economic and energy ties with Venezuela, backing Caracas on the international stage.
In November, Venezuela’s National Assembly approved a 15‑year extension of joint ventures between state oil company PDVSA and Roszarubezhneft to operate two Venezuelan oilfields in the west of the country, reaffirming the long‑term nature of Russian involvement.
