I just read a rather alarming analysis by Russian billionaire Deripaska about what could happen if Washington consolidates its influence over Venezuela's oil reserves. And honestly, this touches on a point that many in the markets are overlooking.

Think of it this way: Venezuela controls one of the largest oil reserves on the planet. If the United States manages to extend its dominance over these resources, combined with its strategic alliance with Saudi Arabia, we would be talking about Washington and its partners effectively influencing nearly half of global reserves. Deripaska sees this as an unprecedented shift in power.

But here’s what really concerns Deripaska and many geopolitical analysts: for Russia, energy exports are not just another sector; they are the heart of the economy. If the U.S. gains greater control over global oil prices and supply, Russian revenues would be squeezed. When you combine that with current sanctions, the scenario becomes quite hostile. Deripaska is pointing out that Russia would have limited options to retaliate.

What’s interesting is that this goes beyond just geopolitics. Energy dominance is dominance over inflation, trade balances, currency stability, and global alliances. Essentially, whoever controls oil controls critical macroeconomic variables.

Markets are probably underestimating how a reconfiguration of energy power could impact the entire global architecture. Oil stopped being just a commodity a long time ago. Now it’s a geopolitical weapon. And if Deripaska is right, we are at a tipping point where power balances could shift in ways we have not yet fully grasped.