US Signals Potential for India to Buy Venezuelan Oil Under New Controlled Framework
1 day agoBusiness
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11 SourcesWashington (state), United States
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US Signals Potential for India to Buy Venezuelan Oil Under New Controlled Framework

The U.S. is reportedly willing to allow India to purchase Venezuelan crude oil under a new U.S.-controlled framework, signaling a potential shift in policy. This comes as India faces Western pressure to reduce its reliance on Russian oil. Reliance Industries is seeking U.S. approval to resume imports, having previously bought Venezuelan crude before sanctions. The U.S. government would oversee sales, with proceeds intended to benefit the Venezuelan people, not the regime. This move could offer India an alternative supply source amid global energy market pressures.

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