The problem with stealing so much private property (for Russia and Venezuela anyways) is that no one is particularly interested in putting much capital in your hands for the development of expensive energy projects.  Hence the Chinese swoop in with very disadvantageous offers (I have seen estimates that the $25 billion offer to the Russians works out to something like $20 a barrel).  This bit comes from the Economist:

China also announced no fewer than three agreements with state-controlled companies–a $25 billion deal with Russia’s Rosneft and Transneft, a $10 billion deal with Brazil’s Petrobras and a $4 billion deal with PDVSA of Venezuela. Details differ a bit in each transaction but the broad thrust is the same. Brazil has discovered a spectacular oil field off its cost, but it will be hard and expensive to exploit. Russia wants to complete a costly pipeline to China. Venezuela is a mess. Each, for whatever reason, needs money and the usual sources have dried up.