US bans Russia and China from Venezuelan oil deals: Moscow calls move discrimination
US bans Russia and China from transactions involving Venezuelan oil (photo: Getty Images)
The US Treasury Department has issued a license allowing American companies to supply Venezuela with equipment and technology for oil and gas production. At the same time, it prohibits any transactions for Russia and China, according to the official website of the US Treasury Department.
The Office of Foreign Assets Control (OFAC) issued three licenses that set conditions for transactions with the Government of Venezuela, the state oil company Petroleos de Venezuela S.A. (PDVSA), and companies in which PDVSA owns 50% or more.
Under the new rules, any agreements with the Government of Venezuela or the state energy company PDVSA must be concluded exclusively under US law. In the event of disputes, they will be resolved only in US courts.
Payments under the agreements must be made only to funds controlled by the United States. At the same time, creating new joint ventures for oil or gas production in Venezuela is prohibited.
Any operations with companies or individuals from Russia, Iran, North Korea, and Cuba are also fully prohibited.
Oil companies will require US authorization to use specialized equipment and import drilling rigs needed to expand oil production in Venezuela.
Reaction of Russia
Russia reacted to the ban on any operations in Venezuela. In particular, the Foreign Minister of the aggressor country Sergey Lavrov called it discrimination.
"The US decision to restrict access for Russia, China, and Iran to Venezuelan oil projects is direct discrimination," he stressed.
Venezuela produces nearly one million barrels of oil per day. According to estimates by the US Energy Information Administration (EIA), this figure may increase by 20% in the coming months.
US and sale of Venezuelan oil
In January 2026, the United States seized seven tankers carrying Venezuelan oil and then confiscated it. On the eve of that, US President Donald Trump said that Venezuela would transfer 30 to 50 million barrels of sanctioned high-quality oil to the United States.
Later, on January 28, Reuters reported that the United States was working to lift some sanctions on Venezuela's energy sector, including oil, in the near future.
In addition, on the 30th, the Trump administration allowed its companies to produce and export Venezuelan oil.
