27 Mar 2019
Oil Dependency: Resources
- Posted by Dejan Pekic BCom DipFP CFP GAICD, Senior Financial Planner
If you are curious about why Russia is deploying military personnel, plans and equipment to Venezuela then this picture says it all.
Click to view.
Venezuela is estimated to have the largest crude oil reserves in the World and even with all that wealth the country is currently in economic ruin.
This could be a strategic land grab for natural resources which has happened many times before throughout Human history.
Remember, Russia has already annexed Crimea which was part of the Ukraine and China has claimed the Spratly Islands in the South China Sea.
Russia and China are also expanding territorial claims in both the Arctic (currently only floating ice) and in the Antarctic.
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