Podcast

Maduro’s Downfall, Global Oil Markets, and Russia, With Sergey Vakulenko

by Alexander Gabuev and Sergey Vakulenko
Published on January 8, 2026

Under Putin, Russia has established a relationship with Venezuela, and was heavily involved in the country until recent years. The Chavez and then Maduro regimes bought Russian weapons with sizeable loans from the Kremlin, Moscow ordered its energy companies to invest in Venezuelan oil fields, and Russia boasted of having secured a foothold in the U.S.’s backyard. With Trump’s swift and successful operation to arrest Maduro, the situation has changed. What are the implications for Russia’s global posture? What can the Kremlin do, and will it do anything? Will deposing Maduro lead to a situation in which Venezuelan oil floods global markets with U.S. help?

Carnegie does not take institutional positions on public policy issues; the views represented herein are those of the author(s) and do not necessarily reflect the views of Carnegie, its staff, or its trustees.

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