Officially, Venezuela has 300 billion barrels of oil reserves – yet in 2023, it exported just 211.6 million barrels of oil, worth about $4bn. Compare that to second-placed Saudi Arabia, which has 267 billion barrels of reserves, but had exports worth $181bn in the same time period.
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The biggest fear, perhaps, in Kyiv is that conflict in the Middle East fuels yet more war fatigue over Ukraine. One diplomat told me that despite rising temperatures as winter makes way for spring, the mood in the capital was grim.
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