US Bans Russia From Venezuelan Oil Transactions

• 11.02.2026, 12:59

The ban also applies to Iran, North Korea and Cuba.

The United States has restricted the aggressor country Russia in transactions with the Venezuelan government and Venezuelan state oil and gas company Petroleos de Venezuela S.A. (PDVSA). This is stipulated in the licenses (#46A and #48) issued by the U.S. Treasury Department's Office of Foreign Assets Control (OFAC), published on its website, writes "Gordon".

In addition to Russia, the restriction applies to Iran, North Korea and Cuba, as well as organizations controlled by them.

License No. 46A concerns operations on export, re-export, sale, transportation and storage of oil of Venezuelan origin. License No. 48 concerns transactions involving the furnishing of goods, technology, software or services to the United States or an individual from the United States for the exploration, development or production of oil or gas in Venezuela.

The two documents permit such transactions if the contracts specify that they are governed by U.S. law and that disputes over the transactions are resolved on U.S. soil.

Russian companies are being forced out of Venezuela after the seizure of Venezuelan President Nicolas Maduro by the US authorities, Russian Foreign Minister Sergei Lavrov complained earlier in an interview with RT propagandists.

"Now, following Venezuela and what is happening there, they are openly trying to remove us, our companies, from Venezuela," he said.