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Home > Finance > Lavrov says US restrictions on Russia's role in Venezuela oil business are discrimination

Lavrov says US restrictions on Russia's role in Venezuela oil business are discrimination

Published by Global Banking & Finance Review®

Posted on February 11, 2026

1 min read

Last updated: February 11, 2026

Lavrov says US restrictions on Russia's role in Venezuela oil business are discrimination - Finance news and analysis from Global Banking & Finance Review

Tags:oil and gas foreign investment

Quick Summary

Lavrov condemns US sanctions on Russia in Venezuela's oil sector as discriminatory, while the Kremlin seeks clarification from Washington.

Lavrov Criticizes US Discrimination Against Russia in Venezuela Oil Sector

US Restrictions on Russia's Role in Venezuela

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.

Kremlin's Response

The Kremlin said earlier on Wednesday that Moscow planned to seek clarification from the United States about the new restrictions.

US Treasury Department License

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.

Diplomatic Communication with Washington

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)

Key Takeaways

•Lavrov criticizes US sanctions as discriminatory.
•Kremlin seeks clarification from the US.
•US Treasury issued a license excluding Russia.
•Russia aims for respectful communication with the US.
•Sanctions impact Russia's role in Venezuela's oil sector.

Frequently Asked Questions about Lavrov says US restrictions on Russia's role in Venezuela oil business are discrimination

1What is foreign investment?

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.

2What are economic sanctions?

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.

3What is the oil sector?

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.

4What are financial regulations?

Financial regulations are laws and rules governing the financial industry, aimed at maintaining market integrity, protecting consumers, and ensuring the stability of financial systems.

US Restrictions on Russia's Role in Venezuela

Kremlin's Response

The Kremlin said earlier on Wednesday that Moscow planned to seek clarification from the United States about the new restrictions.

US Treasury Department License

Diplomatic Communication with Washington

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)

Frequently Asked Questions

1What is foreign investment?

2What are economic sanctions?

3What is the oil sector?

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.

4What are financial regulations?

Financial regulations are laws and rules governing the financial industry, aimed at maintaining market integrity, protecting consumers, and ensuring the stability of financial systems.