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COVID-19 Information and Guidance

Russia uses oil giant Rosneft as foreign policy tool

Through state-owned oil firm Rosneft, Russia has been using oil to leverage its foreign policy interests around the globe. One of its recent targets is Venezuela — a nation in economic and political crisis that has received more than $10 billion in loans from Rosneft over the past three years. “Russia is the only country that can give Venezuela a lifeline to survive through the rest of the year,” said fellow Francisco Monaldi in a New York Times article.