As Venezuela’s biggest creditor, China is carrying the burden of Venezuela’s economic collapse. The PRC has become increasingly aware of this unsustainable situation, and, behind closed doors, has been in communications with the interim government. Back in February, Chinese Foreign Ministry spokesman Geng Shuang said that China is open to working with a different government to ensure payment for the loans-for-oil deals. Strictly speaking, China’s relationship with the South American country is transactional, not ideological.