Russian Billionaire Deripaska Warns US Control of Venezuela Oil Could Crush Russia Economy
Russian billionaire Oleg Deripaska has warned that U.S. control over Venezuela’s massive oil reserves could devastate Russia’s economy and upend global energy markets. His message, circulated online after a dramatic U.S. operation in Venezuela, signals alarm from a key Russian business voice as geopolitical tensions escalate.
Deripaska’s comments raise the stakes in an already volatile geopolitical moment, as Moscow publicly condemns the U.S. military action that saw Venezuelan President Nicolás Maduro captured by U.S. forces. Russia has since issued a travel warning and expressed deep concern about the broader implications of U.S. involvement in Caracas.
According to Deripaska the founder of aluminum and energy interests including Rusal, if Washington gains influence over Venezuela’s oil production, Americans could end up controlling “more than half of the world’s oil reserves,” allowing them to cap Russian oil prices under $50 per barrel. He argued such a scenario threatens Russia’s state-capitalist economic model and would squeeze state revenues that rely heavily on oil and gas exports.
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This complication comes just as oil markets are already unsettled by geopolitical shifts and analysts warn that any large influx of Venezuelan supply could push global prices lower, impacting energy exporters worldwide.
“It would be difficult for our state capitalism to leave everything as it is,” Deripaska wrote, in remarks circulated on Telegram and reposted widely online.
The economic consequences could ripple through Russia’s federal budget, where oil revenues fund public spending and strategic commitments.
Markets will be watching closely as developments in Venezuela continue to unfold and as Russia considers its next diplomatic and economic response.
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