Venezuela Owes Russia and China Billions As Presidential Battle Rages On

Venezuela is in the middle of a power struggle at the highest level, and that could mean trouble for its two biggest foreign allies: China and Russia.

The socialist petrostate is home to the largest oil reserves on the planet, but endemic corruption has devastated its economy. Beijing and Moscow have helped the country stave off collapse by repeatedly extending financial lifelines — to the tune of tens of billions of dollars over the last decade.

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