Part 3/10:
Venezuela, once an essential energy partner providing approximately 20-25% of China’s energy, has been affected by sanctions and shifting alliances. The country was able to purchase oil at a discount—paying around $15 less per barrel—primarily in Chinese currency rather than U.S. dollars. This move was part of China's long-term goal to reduce reliance on the dollar-based global economy. However, with the recent upheavals, such economic advantages are now compromised.