Geopolitical developments in Venezuela, Iran lead to oil market turbulence — Novak

Business & Economy January 22, 16:31

On January 3, US President Donald Trump informed about a military operation in Venezuela, while developments in Iran started on December 29, 2025

MOSCOW, January 22. /TASS/. Geopolitical developments in Venezuela and Iran have become a new source of turbulence for the global oil market, Russian Deputy Prime Minister Alexander Novak wrote in his op-ed for the Energy Policy magazine.

"Geopolitical developments in Venezuela and Iran became another source of turbulence for the global oil market since the start of the year," Novak noted.

On January 3, US President Donald Trump informed about a military operation in Venezuela, which resulted in capturing of President of Venezuela Nicolas Maduro and his spouse.

Developments in Iran started on December 29 of the last year after street protest actions caused by a dramatic drop of the national currency rate, and spread to most of large cities.

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