Indian holding company Reliance Industries has begun negotiations with the United States to resume imports of Venezuelan oil amid a desire to limit oil purchases from the aggressor country of russia due to Washington's pressure on New Delhi.
It was reported by Reuters with reference to its own sources.
Unnnamed interlocutors of the agency said that Reliance representatives are negotiating with the US State Department and the US Treasury Department to obtain permission to resume purchases of Venezuelan oil.
According to Reuters, in previous years, Reliance received licenses from Washington to import crude oil from Venezuela, which the United States has imposed sanctions on. According to Venezuelan oil company PDVSA, Reliance received four shipments of oil in the first quarter of 2025. In the spring of 2025, the US suspended most of the licenses issued to PDVSA's partners. This happened amid increasing pressure on Venezuelan President Nicolas Maduro.
Chevron, Vitol, Trafigura and other oil companies are currently fighting for licenses and control over Venezuelan oil exports. The day before, US President Donald Trump met with company executives to discuss their return to oil production in Venezuela.
Another Reuters source said that Reliance is ready to buy Venezuelan oil from American companies and other companies with drilling rights in Venezuela if crude oil is offered at attractive prices would take control of the sale of Venezuelan oil.
As the Ukrainian News agency earlier reported, on January 7, US Energy Secretary Chris Wright said that Washington would lift sanctions on Venezuela, but would take control of the sale of Venezuelan oil.
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