Chinese state lenders still hold billions of dollars in claims against Venezuela as the Trump administration backs a new wave of oil development in the country.
U.S. Energy Secretary Chris Wright said in Caracas on Sept. 2 that China would not have debt claims on revenue generated by new Venezuelan oil production as the country addresses its historical debts.
“Venezuela’s got a lot of historical debt,” Wright told Bloomberg Television.
The U.S.–China Economic and Security Review Commission said in January that Chinese policy banks had lent more to Venezuela than to any other Latin American country and that at least $10 billion in Chinese bank loans remained outstanding. …