The US Imposes New Restrictions on Venezuela's Oil

The US Treasury Department has released a new license that regulates transactions in Venezuela's oil sector and restricts Russia's involvement in these processes. The document was issued by the Office of Foreign Assets Control (OFAC).

The license prohibits any transactions involving citizens or companies from Russia, Iran, North Korea, and Cuba. The restrictions also apply to organizations that are directly or indirectly controlled by these countries or operate in the form of joint ventures.

Additionally, the document restricts transactions with legal entities in Venezuela and the US that are owned or controlled by Chinese entities, as well as in cases of joint ventures involving Chinese companies.

At the same time, the license allows US businesses to operate in Venezuela's oil and gas sector, including exploration, extraction, and processing of raw materials.