We're All Happy To Despel The Myth Of Democracy and Rules Based International Order.
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Escobar: How Trump's Oily Dreams May Collapse In A Venezuelan Dark Pit
China was importing roughly 746,000 barrels of oil a day from Venezuela. That’s not much. Beijing is already working on replacing it with imports from Iran. China essentially is not dependent on Venezuelan oil. Apart from Iran, it may also source from Russia and Saudi Arabia.
Beijing clearly sees that the imperial overdrive in the Western Hemisphere and in West Asia is not just about oil, but also to force China to buy energy with petrodollars. Nonsense: with Russia, the Persian Gulf and beyond, the name of the game is already petroyuan.
China is 80% energy independent. Venezuela de facto was accounting for a mere 2% of the 20% China imports – and this according to the US government’s own numbers.
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