True or False: The U.S. is Venezuela's only major creditor from oil nationalization.

Question

Accepted Answer

FALSE. Multiple countries and international entities have claims against Venezuela from nationalization and debt defaults. China holds over $60 billion in loans backed by oil shipments. Russia has billions in military and energy investments. European companies like Repsol and Eni also lost assets. U.S. companies ConocoPhillips and ExxonMobil represent only a portion of Venezuela's massive international debt burden, estimated at over $150 billion total.

True or False: The U.S. is Venezuela's only major creditor from oil nationalization.

Explanation

Sources

Related Questions