Venezuela Assures China Oil Prices Will Follow Market, Seeks to Calm Investor Concerns After Maduro’s Capture

Venezuela has told Beijing that the price of its oil exports will not be dictated by the United States, as Caracas seeks to preserve Chinese confidence in the wake of President Nicolás Maduro’s capture by U.S. forces. The message comes amid growing uncertainty over the future of Venezuela’s energy sector and foreign investment under intensifying U.S. involvement.

Speaking at a press briefing in Beijing, Venezuelan ambassador Remigio Ceballos rejected reports that Washington could influence the price China pays for Venezuelan crude. He said Caracas would make its own decisions and that oil prices would continue to be set by international market conditions, not by arrangements imposed by other countries.

The remarks followed reports that U.S. President Donald Trump was considering exerting control over Venezuela’s state oil company, Petróleos de Venezuela SA, including proposals to cap crude prices. Ceballos emphasized that Venezuela’s sovereignty over its energy resources remains intact, despite the political shock triggered by Maduro’s capture.

China, which has become one of Venezuela’s most important oil buyers due to years of U.S. sanctions, has publicly condemned the U.S. military operation and called for Maduro’s release. The ambassador described the arrest as a warning to the international community, but stressed that relations between China and Venezuela are built on mutual trust and will not be swayed by third-party pressure.

Ceballos also sought to calm fears over Chinese investments in Venezuela, saying projects across sectors — including energy — are continuing as planned. Chinese firms have played a central role in Venezuela’s oil industry after U.S. sanctions curtailed Western participation. State-owned China National Petroleum Corporation maintains joint ventures with PDVSA, while private firm China Concord Resources Corp has announced plans to invest more than $1 billion in Venezuelan oil projects.

Venezuela holds the world’s largest proven crude reserves, but production has been severely constrained by years of mismanagement, underinvestment and sanctions. The Trump administration has argued that U.S.-led reforms and controlled oil sales could help stabilize the country, revive output and ultimately benefit both Venezuelans and global energy markets.

Washington has already overseen an initial Venezuelan oil sale worth about $500 million, with proceeds reportedly returned to the Venezuelan government. U.S. officials have described the intervention as a temporary measure aimed at economic stabilization, while also signaling possible steps to ease sanctions through broader licensing for oil trading and refining.

Despite earlier reports that the White House demanded Venezuela cut economic ties with countries such as China and Russia, Trump has recently softened his tone. He has said Chinese and Indian investment would be welcome, framing foreign capital as part of rebuilding Venezuela’s energy sector.

Against this backdrop, Beijing has continued to emphasize its support for sovereignty and multipolar global order. Chinese President Xi Jinping reiterated China’s commitment to relations with Latin American countries during a meeting with Uruguay’s president, underscoring that China intends to remain an active player in the region even as U.S. pressure on Venezuela intensifies.