China Firmly Opposes US Excluding China and Russia from Venezuela Mining Licenses

China Firmly Opposes US Excluding China and Russia from Venezuela Mining Licenses

China's Foreign Ministry has issued a strong statement opposing a US Treasury Department "General License" that authorizes investment and operations in Venezuela's mining sector — while explicitly excluding China, Russia, North Korea, Cuba, and Iran from participation.

The License

The US Treasury's "General License" authorizes companies to sign investment and operation contracts in Venezuela's mining sector. The State Department claims the move will "help Venezuela's economy get back on track and benefit American and Venezuelan people."

Excluded countries:

• China
• Russia
• North Korea
• Cuba
• Iran

China's Response

Foreign Ministry spokesperson Mao Ning stated at the April 1 regular press conference:

• China "firmly opposes" the US using the "General License" to restrict China-Venezuela cooperation
• China's "legitimate rights and interests in Venezuela must be protected"
• The US should "immediately cancel illegal unilateral sanctions on Venezuela"
• Accused the US of using the license to "beautify" its actions that "damage the legitimate rights and interests of all parties including Venezuela"

Broader Context

Venezuela-China relationship:

• China is Venezuela's largest creditor (an estimated $60+ billion in loans)
• China has significant oil and mining investments in Venezuela
• Venezuela sits on the world's largest proven oil reserves
• China-Venezuela cooperation predates current US sanctions

US-Venezuela relations:

• US has maintained sanctions on Venezuela since 2017
• Some sanctions were eased briefly under previous administrations
• The new mining license represents a partial opening
• But explicitly excluding China/Russia sends a geopolitical signal

Resource competition:

• Venezuela's mineral wealth includes gold, bauxite, iron ore, and rare earth minerals
• Both the US and China have strategic interests in Venezuelan resources
• The license effectively creates a Western-dominated framework for Venezuelan mining
• This mirrors broader US-China competition for access to critical minerals globally

Implications

1. China unlikely to comply: China will likely continue its existing operations in Venezuela regardless of the US license
2. Venezuela's position: Caught between two major powers; Caracas will seek to balance relations
3. Precedent: This approach could be extended to other resource-rich countries
4. Retaliation: China may restrict US companies' access to Chinese-controlled resources in other countries
5. Multilateral impact: Other countries with US sanctions may face similar exclusion frameworks