Overview
- China is pressing Caracas for repayment estimated near $20 billion and for formal assurances on outstanding obligations.
- Chinese financial regulators ordered major banks to detail and manage their Venezuela exposure following the political upheaval.
- Officials in Beijing opened channels with senior Venezuelan and U.S. counterparts to secure repayment and participation in any debt talks.
- Venezuela’s interim leadership moved to ease foreign investment in oil, proposing a partial hydrocarbons law reform and creating two sovereign funds.
- The White House said Caracas has met U.S. conditions so far, citing a $500 million arrangement for the U.S. to commercialize up to 50 million barrels of Venezuelan crude before remitting proceeds.