By Merve Berker
ANKARA (AA) – Venezuela has pledged that the US will not dictate the price of its oil exports to China and has assured that foreign investment — especially from Beijing — remains secure following the capture of President Nicolas Maduro, media reports said Tuesday.
Venezuelan Ambassador to China Remigio Ceballos stated that Caracas “will not heed the arrangements of the US or other countries” on oil pricing, according to CNBC.
“We have the right to make independent decisions,” he added, noting that prices would follow international market trends.
The comments came weeks after Washington launched a military operation on Jan. 3, detaining Maduro and First Lady Cilia Flores.
The White House reportedly demanded Venezuela cut economic ties with China, Russia, Iran and Cuba, but US President Donald Trump later said: “China is welcome to come in and will make a great deal on oil.”
Ceballos sought to reassure investors, stating that “Chinese enterprises operating in Venezuela and investments from other nations have continued to progress as usual.”
He described China and Venezuela as “trusted partners” whose cooperation would not be swayed by “any third country.”
China, a key recipient of Venezuelan crude under steep discounts, condemned the US operation and called for Maduro’s release.
China’s state-owned CNPC and private firm China Concord Resources Corp. have active projects in Venezuela, including a $1 billion oil venture aiming for 60,000 barrels per day by end-2026.
US officials have returned $500 million from Venezuela’s initial oil sale and may issue general licenses to facilitate crude trading and refining.