China Slams US ‘Hegemonic Acts’ After Strikes on Venezuela

China said it’s “deeply shocked” by the US’s military strikes on Venezuela and its capture of President Nicolas Maduro.

China “strongly condemns the US’s blatant use of force against a sovereign state and action against its president,” a Foreign Ministry spokesperson said in a statement late Saturday. “Such hegemonic acts of the US seriously violate international law and Venezuela’s sovereignty, and threaten peace and security in Latin America and the Caribbean region. China firmly opposes it.”

Most Read from Bloomberg

China — the biggest buyer of oil from the South American country, as well as its largest creditor — is the latest in a string of global leftist nations including Brazil, Russia, Colombia, Mexico and Cuba that have denounced the US military action against Venezuela. In the run-up to Saturday’s strike, Beijing had offered its support to the Maduro regime following months of growing pressure from the Trump administration.

“We call on the US to abide by international law and the purposes and principles of the UN Charter, and stop violating other countries’ sovereignty and security,” the ministry in Beijing said.

WATCH: President Nicolás Maduro has been charged in the US after he was captured and flown out of Venezuela. Bloomberg’s Derek Wallbank explains.Source: Bloomberg
WATCH: President Nicolás Maduro has been charged in the US after he was captured and flown out of Venezuela. Bloomberg’s Derek Wallbank explains.Source: Bloomberg

On Friday, Maduro received a high-level Chinese delegation in Caracas on Friday, including Special Representative of the Chinese Government on Latin American Affairs Qiu Xiaoqi — one of the Venezuelan leader’s last publicly known meetings before the US strikes and his capture. It is unclear if the diplomats remained in the country by the time of the attack.

Earlier Saturday, China’s Foreign Ministry and the Chinese Embassy in Venezuela advised citizens to temporarily avoid traveling to the South American nation, according to a post on Wechat.

Last month, Chinese Foreign Minister Wang Yi told his Venezuelan counterpart Yvan Gil that Beijing opposes “unilateral bullying” and supports all countries in safeguarding their sovereignty and national dignity. While Wang did not name the US directly, the remarks came after President Donald Trump ordered a blockade of sanctioned oil tankers going in and out of Venezuela.

Wang said then that Venezuela has the right to develop mutually beneficial cooperation with other countries, and that China believes the international community supports Venezuela’s position.

Chinese refiners are the biggest buyers of Venezuelan crude. Officially, China hasn’t taken the South American country’s crude since March, but third-party and ship-tracking data indicate flows to the Asian nation remained robust last year.

The independent refiners, known as teapots, are key buyers of Merey oil from Venezuela, a heavy crude that’s typically used to make bitumen to pave roads. Merey is offered at a steep discount to comparable grades, making it attractive for the processors grappling with razor-thin margins.

Venezuelan oil takes an unconventional route to end-users in China. Transport typically takes more than two months and involves multiple ship-to-ship transfers to mask the origin of the cargo. Close to half of the tankers storing Merey are sitting in waters off China and Southeast Asia, according to ship-tracking data compiled by Bloomberg.

Meanwhile, public data supports estimates that Beijing lent upwards of $60 billion in oil-backed loans to Venezuela through state-run banks until 2015, reaching a level of diplomatic and financial investment unmatched elsewhere in Latin America and perhaps the world.

China became a key lender to Venezuela in 2007, when it first provided funds for infrastructure and oil projects under the late President Hugo Chávez.

–With assistance from Chao Zhang.

Most Read from Bloomberg Businessweek

©2026 Bloomberg L.P.

Source link

Visited 1 times, 1 visit(s) today

Related Article

Kulicke and Soffa (KLIC): buy, sell, or hold post Q2 earnings?

Kulicke and Soffa (KLIC): buy, sell, or hold post Q2 earnings? Over the past six months, Kulicke and Soffa’s stock price fell to $72.89. Shareholders have lost 13.9% of their capital, which is disappointing considering the S&P 500 has climbed by 9.1%. This may have investors wondering how to approach the situation. Is now the

Why RingCentral Stock Is Up Today

Shares of RingCentral (NYSE:RNG) rose 5% on Friday after the communications software provider raised its full-year free cash flow forecast. Image source: Getty Images. Missed Nvidia in 2009? This Rare Signal Is Flashing Again. In 2009, a “Double Down” signal flashed for a little-known chipmaker called Nvidia. For the first time in years, that same

AT&T Stock Sinks on Subscriber and SpaceX Worries. Is the Stock a Buy on the Dip?

AT&T (T -7.96%) stock had been on a roll, more than doubling from July 2023 to a closing high of $28.10 on March 27, 2026. However, after a strong start to 2026, AT&T stock has since come under pressure from the potential threat of Space Exploration Technologies (SPCX +1.89%) entering the U.S. mobile market. While

US Could "Absolutely" Strike Iran This Weekend, Says Envoy

US Could “Absolutely” Strike Iran This Weekend, Says Envoy

“Could there be a strike this weekend? Absolutely,” said Tom Barrack. File The United States could strike Iran as soon as this weekend, a US envoy said Friday, after mounting threats by both Washington and Israel. “Could there be a strike this weekend? Absolutely,” Tom Barrack, the US ambassador to Turkey and point man on

The AI sell-off is crushing stocks of companies leading the data center build-out

Two of the AI building boom’s biggest suppliers just posted blowout quarters. Wall Street is dumping them anyway. Bloom Energy (BE), whose fuel cells generate power on-site at data centers, said Thursday that sales jumped 138% last quarter and raised its full-year outlook to roughly 122% growth. Comfort Systems (FIX), which installs the cooling and

Bloom Energy Stock Sinks Despite Record Revenue and a Stellar Outlook. Is It Time to Buy?

Bloom Energy (NYSE:BE) delivered another blowout quarter, smashing estimates and growing profits faster than sales. Yet, its stock plunged after earnings and was down more than 12% as of Friday noon. The company sells solid-oxide fuel cell servers that turn natural gas into electricity right at a customer’s site. Artificial intelligence (AI) data centers desperately

Moderna trims losses as investors digest melanoma vaccine trial data

Moderna (MRNA) trimmed losses Friday, rebounding from a sharp sell-off in the previous session, as investors digested data from a late-stage trial of its personalized melanoma vaccine. The stock opened lower but climbed into positive territory during the session, a day after plunging more than 17% on Thursday in its worst single-day performance since Aug.

Cathie Wood Makes Surprise Move Across Three Popular Tech Stocks

This article first appeared on GuruFocus. Cathie Wood’s ARK Invest bought heavily into Meta Platforms (NASDAQ:META) after the stock’s post-earnings selloff, while reducing exposure to Palantir (NASDAQ:PLTR) and Roblox (RBLX). ARK funds purchased 38,110 Meta shares worth about $24.7 million on Thursday, Oct. 22, after the stock plunged roughly 7% and erased its gains for

Anguilla strengthens UK luxury travel partnerships at Virtuoso On Tour London

The Anguilla Tourist Board (ATB) strengthened its engagement with the United Kingdom’s luxury travel market at Virtuoso On Tour London 2026, where Deputy Director of Tourism Chantelle Richardson delivered a destination presentation to 200 travel professionals during the event’s lunch program. Virtuoso On Tour London, held Oct. 20-21, brought together Virtuoso travel advisors and preferred

Could a $10,000 Investment in Micron Set You Up for Life?

Some companies don’t keep their ambitions secret. They swagger onto the stock market and draw plenty of attention with a splashy IPO and big promises (lookin’ at you, Tesla). But some incredibly successful stocks are sleeper hits: They quietly sit on the market doing nothing until one day, bam! Their shares take off like a

Ukrainian officials say Starshield restrictions still in place, despite Trump’s claims

US President Donald Trump on Thursday claimed that Elon Musk had restored Ukraine’s access to a military-grade version of his Starlink internet service, called Starshield, but Ukrainian officials have said restrictions remain in place that are complicating Kyiv’s war effort. Trump asked Musk in a phone call in recent days to restore Ukraine’s full access

Is Cognex Stock’s Market Price Justified?

For questions about this article or underlying research, email help@trefis.com. Cognex (CGNX) stock trades at 52.3 times its earnings over the last twelve months. That multiple is more than twice the 23.0 times for the S&P 500. Buyers at that price are paying today for profit the machine vision company has not yet earned, while

Prediction: Intel Stock Will Take Off After Oct. 29

After rising incredibly in the first half of 2026, Intel (NASDAQ:INTC) stock has run into rough weather in recent months. Shares of the semiconductor specialist are down by 31% since the beginning of July. However, Intel stock could get a nice shot in the arm following the release of its third-quarter results on Oct. 29.

If a Stock Market Crash Is on the Way, Warren Buffett Says This Is the Best Thing Investors Can Do for Their Portfolio

The S&P 500 (^GSPC -1.21%) and Nasdaq Composite (^IXIC -2.60%) have recently been experiencing a bout of volatility after repeatedly notching record highs throughout 2026. With stocks coming under pressure, some investors are wondering whether a larger market correction is approaching. Part of the concern stems from elevated bond yields and stubborn inflation. Meanwhile, artificial

0
Would love your thoughts, please comment.x
()
x