Imagine if Exxon attempted to buy Venezuela's oil industry? Well, nothing to fret about as Russia is stepping up to the plate to buy the Venezuela's oil industry. Russia's state-owned oil giant Rosneft is eager to take control of PdVSA, the bankrupt Venezuelan oil company that explores for and produces most of the country's oil. The Associated Press (AP) reported on March 28, 2020 that Russia's Rosneft has transferred its assets in Venezuela to a company fully owned by Vladimir Putin's government, a move apparently intended to shield Russia's largest oil producer from U.S. sanctions. Russia looks set to be buying Venezuela's oil. Like, all of it. Russia's Rosneft is a big lender to Venezuelan's PdVSA, and PdVSA is broke so Rosneft wants to be paid. So, it makes sense that the Venezuelan government would sell something.