U.S. Treasury Department Issues License for Oil Exploration in Venezuela, Excludes Russian Entities
The U.S. Treasury Department has issued a general license that allows U.S. firms to engage in oil and gas exploration and production in Venezuela. This license, however, specifically excludes transactions involving Russian, Chinese, and Iranian nationals or entities. The move is part of a broader strategy to ease sanctions on Venezuela's oil industry, reflecting the U.S. government's interest in the country's oil sector. Russia, which has significant investments in Venezuela's oil industry, has criticized the U.S. restrictions as discriminatory. Russian Foreign Minister Sergei Lavrov stated that the Kremlin would seek clarification from Washington, emphasizing the need for mutually respectful cooperation without domination. Russia's Roszarubezhneft, a state-owned energy firm, has maintained its commitment to its international partners in Venezuela despite these restrictions. 
