Although Maduro walked back last week’s
court decision, he retained the power to negotiate oil deals without
congressional approval, a tool that may prove very important. China or Russia
could yet help Venezuela out of its hole. But China does not seem eager to play
a geopolitical role, and it has little to gain from saving a crisis-ridden
regime in the Western Hemisphere from seemingly inevitable collapse. Russia, on
the other hand, seems to be doing what it can to help Maduro through his hard
spell: It is reportedly negotiating loans and further investments by Rosneft
that might help the regime through a heavy bout of April debt payments. More…
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