India’s leading refiner seeks US approval to buy Venezuelan oil
The move comes as New Delhi faces mounting U.S. pressure to reduce its reliance on Russian oil. In August, President Donald Trump imposed steep tariffs of 50% on Indian goods in response to the country’s continued energy trade with Moscow.
Seeking alternatives, Reliance Industries has opened discussions with the U.S. State and Treasury departments to secure authorization for Venezuelan supplies. Company representatives have indicated they are prepared to purchase crude if sales to non U.S. buyers are permitted. A spokesperson explained, “We await clarity on access for Venezuelan oil by non-US buyers and will consider buying the oil in a compliant manner.”
Earlier in 2025, Reliance received four shipments from Venezuela’s state oil company PDVSA, averaging about 63,000 barrels per day. In previous years, the firm had obtained special waivers from Washington to continue sourcing Venezuelan crude despite sanctions. However, beginning in March, U.S. authorities gradually withdrew those licenses as part of efforts to intensify pressure on President Nicolas Maduro.
Legal Disclaimer:
MENAFN provides the
information “as is” without warranty of any kind. We do not accept
any responsibility or liability for the accuracy, content, images,
videos, licenses, completeness, legality, or reliability of the information
contained in this article. If you have any complaints or copyright
issues related to this article, kindly contact the provider above.
Legal Disclaimer:
EIN Presswire provides this news content "as is" without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the author above.
