Venezuelan ‘Meltdown’ Could Enable Russia to Threaten US Energy Sector

Official Washington is consumed these days with rumors of untoward Russian influence. So far, however, it has all but ignored an ominous reality: The Kremlin is poised to secure control over key parts of the U.S. energy sector.

Specifically, Vladimir Putin’s state-owned oil conglomerate, Rosneft, has exploited the dire economic circumstances of its bankrupt Venezuelan counterpart, PDVSA. As a result, Moscow may soon acquire many – if not actually all – of the assets of Citgo, until now a PDVSA subsidiary. Citgo’s three critical American oil refineries and pipelines could enable Russia to manipulate or disrupt U.S. energy flows.

A House subcommittee is holding a hearing today entitled “Venezuela’s Tragic Meltdown.” Congress must begin assessing whether one of the repercussions of that disaster for Latin America will be a yawning strategic vulnerability for the United States.