In international chess, few nations have been as contested as Venezuela. Its strategic location in the Caribbean, its vast oil reserves, and its role in Latin American politics have made it a key piece for the great powers seeking influence in the region.
🛢️ Resources as a currency of power
Venezuela has one of the largest oil reserves in the world, concentrated in the Orinoco belt. Although its crude is of low quality and requires specialized refineries —many of them in the United States— it remains a strategic asset for countries seeking to diversify their energy sources.
- The United States has considered Venezuelan oil as a national security resource, maintaining economic ties through companies like Citgo, a subsidiary of PDVSA in U.S. territory.
- China, for its part, has offered soft loans and invested in oil infrastructure, consolidating its presence as the main financial source of the country.
- Russia has provided military and diplomatic support to the government of Nicolás Maduro, seeking to counteract Western influence in Latin America.
🌍 A board of rivalries
The political and economic crisis in Venezuela has transcended the regional scope, becoming a point of friction between geopolitical blocs. While Washington pushes for sanctions and supports opposition sectors, Moscow and Beijing reinforce their backing of the chavista regime, using Venezuela as a symbol of resistance to the Western liberal order.
This game of influences turns Venezuela into an "exchange piece": a country whose stability, alliances, and resources can tilt the balance of power in broader scenarios, such as multilateral negotiations, energy agreements, or diplomatic disputes.
🔄 Exchange for what?
Venezuela has been used as:
- Element of pressure in negotiations between powers (for example, in discussions about sanctions, trade, or regional security).
- Testing ground for alternative South-South cooperation models, especially with the expanded BRICS.
- Ideological symbol, both for anti-imperialist movements and for advocates of the free market.
📉 Risks and opportunities
The use of Venezuela as a geopolitical pawn has consequences:
- Risks: Loss of sovereignty, external dependence, internal polarization.
- Opportunities: Reconfiguration of alliances, access to financing, prominence in emerging new blocs.
✍️ Final reflection
Venezuela is not just a country in crisis: it is a mirror reflecting the tensions of the multipolar world. Its destiny does not depend solely on its internal decisions, but also on how the powers decide to move their pieces. In this game, the key is to regain national agency and turn geopolitics into a tool for development, not submission.
