China's access to Venezuelan oil is bound to change after the U.S. operation inside Venezuela. CBS News' Ramy Inocencio has more on the global reaction to Nicolás Maduro's ousting.

Caracas

The recent U.S. military operation in Venezuela, which resulted in the capture of former President Nicolas Maduro and his wife, has been condemned by both China and Russia. China, as Venezuela's largest oil importer, faces challenges to its energy security and diminished influence in South America, while Russia is concerned about the potential impact on global oil prices and its own revenues, particularly in relation to its ongoing war in Ukraine.

Experts note that these developments could lead to a prolonged struggle for influence between the U.S. and China in both hemispheres. The operation has also complicated Russia's strategic interests, as increased Venezuelan oil production could lower prices and reduce funding for its foreign policy objectives.

How U.S. operations in Venezuela affects China and Russia

Moving on to this, Russia and China are among nations condemning the U.S. military operation over the weekend, capturing the now former Venezuelan President Nicolas Maduro and his wife. For a look at the global implications of this U.S. raid, we're joined by CBS News foreign correspondent Rami Innocencio, who is holding things down, as usual, in our London newsroom. Rami, good morning here once again. Help us understand what's at stake for Beijing in all of this. Errol, yeah, good to see you again. Well, China is taking hits in a couple big ways here. One is in its energy security, because it is the biggest importer of Venezuelan oil. And then, with the U.S. military flying into Venezuela's sovereign airspace, landing on Venezuelan soil to take Maduro over the weekend, China's power projection into the Western Hemisphere has also been shaken. You know, Venezuela was Beijing's actually first toehold into South America back in the 2000s. And now it appears to be losing that. I spoke to Dr. Ryan Berg. He's the director of the Americas program in Washington, D.C., at the Center for Strategic and International Studies on China's concern about getting Venezuelan oil in the future. Take a listen. Whether all of that production, and especially any increase in production in Venezuela that might occur, is going to come to the United States or whether it will be sold on international markets. Now, China has a way to make up for what Venezuela represented, but it is not going to be easy, especially as the United States is simultaneously squeezing Iran, one of its other top sources. And he told me that China and the U.S. are getting ready for, in his words, a decade-long struggle, decades-long struggle against one another in the Eastern Hemisphere and the Western Hemisphere. And Trump is now making it tougher for China in, as he has said, the U.S.'s backyard. What about the Kremlin's take on all of this? How is this viewed by Putin's regime? Sure. Well, it's making it tougher for Russia's own power projection, too, right? Because of oil, too, there can be a line, in fact, drawn from Venezuela across the Atlantic Ocean and then over to Russia's war in Ukraine, as we're seeing it here. Remember, Russia's own exports of oil, funding its own invasion of Ukraine. But then if more oil from Venezuela comes online, law of supply and demand here, that would probably push oil prices lower. Then that means Russia would have less money in its bank for its war chests, because it has to cut its own prices. So that is where Russia and the Kremlin are standing on this, as they see this play out in the Western Hemisphere, as well. All right, Remy Innocencio, great to chat with you. Joining us from London.

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Venezuela Strikes

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Minneapolis

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Nuuk

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Washington

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London

Ukraine Invasion

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Jerusalem

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Soweto

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New York

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Beit Jinn

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Manhattan

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Breakdown