The U.S. has imposed a ban on any transactions involving Russia with Venezuelan oil 0 7

The U.S. Department of the Treasury's Office of Foreign Assets Control has issued a new license for operations with Venezuelan oil, which excludes any transactions involving Russia, as reported by Meduza.

The license allows for "certain types of activities related to Venezuelan-origin oil." However, a separate clause describes transactions that are not permitted. This includes "any transactions involving individuals (including legal entities) located in the Russian Federation or established under the laws of the Russian Federation." The same ban applies to three other countries — Iran, North Korea, and Cuba.

Additionally, another separate clause prohibits any transactions involving a legal entity located in Venezuela or the U.S. (or established under their laws) that is "directly or indirectly owned" or controlled by an individual located in China.

After the capture of Venezuelan President Nicolás Maduro in early January, the Trump administration demanded that interim head of state Delcy Rodríguez allow American oil companies into the local oil market and cease oil sales to U.S. adversaries. Russian billionaire Oleg Deripaska noted that if the U.S. gains access to Venezuela's oil fields, "they will control more than half of the world's oil reserves." "And apparently, their plan is to ensure that the price of our oil does not rise above $50 per barrel," Deripaska stated.