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Russian oil firm says it will keep its Venezuela assets after US military operation

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  • Russia’s state-owned Roszarubezhneft says its Venezuelan oil assets belong to the Russian state.
  • Roszarubezhneft holds stakes in oil joint ventures with Venezuela’s state-owned PDVSA energy giant.
  • President Trump has talked about US control and investment after the January 3 military operation.

Russia’s state-owned oil company Roszarubezhneft sought to draw a line around its oil holdings in Venezuela after a US military operation on January 3 reshaped the South American country’s political landscape.

“All assets of Roszarubezhneft JSC in Venezuela are owned by the Russian state,” the company said in a statement carried by Russian news agency TASS on Tuesday.

Roszarubezhneft took over Rosneft’s Venezuelan holdings in 2020 after US sanctions forced the oil giant to exit. It now holds stakes in five joint ventures with Venezuela’s state oil company PDVSA.

The company — owned by a unit of the Russian Ministry of Economic Development — said on Tuesday that the assets were acquired at full market value and approved by Venezuelan regulators.

Roszarubezhneft’s statement came as Venezuela’s oil sector faces fresh uncertainty after the recent US raid that resulted in the capture of deposed Venezuelan President Nicolás Maduro.

After the operation, President Donald Trump said the US could run Venezuela and touted plans for American oil companies to invest in the South American country’s vast but rundown oil sector.

Russian President Vladimir Putin has not commented publicly on the operation in Venezuela. Moscow’s relationship with Caracas includes deep energy ties — a key pillar of Russia’s economy — alongside defense and diplomatic cooperation.

The Russian foreign ​ministry has called for Maduro’s release and for dialogue between the US and Venezuela.

Investors are watching whether the tensions spill over into energy flows.

Global oil prices have been weighed down in recent years by ample supply and slowing demand growth.

But analysts say geopolitical risks are rising, with Venezuela and renewed tensions involving Iran back in focus.

Some analysts warn that the risk of an oil price shock — a sudden surge in prices that can ripple through markets and the global economy — is increasing as geopolitical conflicts intensify.




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Trump said he wants to raise the US military budget by 50% in 2027

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  • Trump wants to spend $1.5 trillion on the US military in 2027.
  • He said that the raised budget would secure the country during “very troubled and dangerous times.”
  • The budget would be financed from “tremendous” tariff revenue, he said on Truth Social.

President Donald Trump says the US will be spending a lot more on the military next year.

Trump said in a Truth Social post on Wednesday that he had decided to raise the US’s military budget in 2027 from $1 trillion to $1.5 trillion.

“This will allow us to build the ‘Dream Military’ that we have long been entitled to and, more importantly, that will keep us SAFE and SECURE, regardless of foe,” Trump said.

He said that the larger budget would be financed by the tariffs he has imposed on almost all countries, and would secure the US during “very troubled and dangerous times.”

Trump said in the post that tariff income was so “tremendous” that even after allocating $1.5 trillion to the military budget, the US would still be able to pay off its debts and pay dividends to “moderate income” Americans.

Trump’s proposed military budget is significantly higher than the budget approved by Congress for defense spending in 2026: $901 billion. The 2027 budget increase must be approved by Congress.

Trump’s post about raising the military budget followed another post targeted at defense contractors. He criticized firms like Raytheon for issuing large dividends to shareholders, doing stock buybacks, and offering “exorbitant” pay packages to executives.

The president prohibited these companies from doing so until they pour more investments into manufacturing plants and equipment.

Stock prices for defense companies saw boosts in after-hours trading on Wednesday following Trump’s announcement of a larger military budget. Raytheon’s stock rose nearly 4% and Lockheed Martin’s rose more than 6%.

The post came after the US military conducted a raid on Venezuela last week and captured the country’s President Nicolás Maduro and his wife, who are now being prosecuted in New York. Trump threatened Colombia, Cuba, and Mexico with similar military intervention.




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