Published by Global Banking & Finance Review®
Posted on February 11, 2026
1 min readLast updated: February 11, 2026
Add as preferred source on GoogleLavrov condemns US sanctions on Russia in Venezuela's oil sector as discriminatory, while the Kremlin seeks clarification from Washington.
MOSCOW, Feb 11 (Reuters) - Russian Foreign Minister Sergei Lavrov said on Wednesday that new U.S. restrictions on the role of Russia and other countries in Venezuela's oil business were blatant discrimination.
The Kremlin said earlier on Wednesday that Moscow planned to seek clarification from the United States about the new restrictions.
The U.S. Treasury Department on Tuesday issued a general license to facilitate the exploration and production of oil and gas in Venezuela. The license did not authorise transactions involving Russian and Chinese nationals or entities.
Lavrov said Russia was in touch with Washington on the issue and wanted to conduct mutually-respectful work "without the idea of domination".
(Reporting by Dmitry Antonov; Writing by Anastasia TeterevlevaEditing by Andrew Osborn)
Foreign investment refers to the investment made by individuals or entities in assets or businesses located in another country. It can take the form of direct investment in physical assets or portfolio investment in financial assets.
Economic sanctions are restrictive measures imposed by countries or international organizations to influence or punish a nation, group, or individual. They can include trade restrictions, asset freezes, and financial prohibitions.
The oil sector encompasses the exploration, extraction, refining, and distribution of oil and gas products. It plays a crucial role in the global economy and energy supply.
Financial regulations are laws and rules governing the financial industry, aimed at maintaining market integrity, protecting consumers, and ensuring the stability of financial systems.
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