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Russia on Venezuela: "Illegal, But Logical"
Russia criticizes U.S. military action in Venezuela as a violation of international law while acknowledging it's "consistent" with America's strategic interests in protecting its near-abroad and energy dominance.
Key Takeaways:
Oil is the real prize: Venezuela holds the world's largest proven reserves. Moscow understands this is an energy power play, not just ideology.
No escalation: The nuanced tone suggests Russia prefers diplomatic maneuvering over direct confrontation.
Market impact: Reduced risk of U.S.-Russia proxy war eases oil's geopolitical risk premium.
For traders: Expect Brent/WTI volatility to moderate if Russia avoids hard retaliation. This calibrated response signals negotiated spheres of influence rather than all-out conflict.