The White House indicated it is prepared to allow India to purchase Venezuelan oil under a new U.S.-controlled framework.
This development could reopen supplies to India, which was one of Venezuela’s largest customers before sanctions were imposed. A senior administration official confirmed this openness, though details are still being worked out.
Energy Secretary Christopher Wright mentioned that Venezuelan oil sales will be marketed by the U.S. government and the proceeds managed by Washington to benefit the Venezuelan population rather than its regime.
He highlighted that there is considerable interest in Venezuelan crude globally, including from U.S. refiners and buyers in Europe and Asia. Wright framed this policy within a broader strategy to enforce sanctions while transforming Venezuela’s oil sector, stressing that only U.S.-approved energy commerce would be allowed.
He also revealed plans to market 30 to 50 million barrels of stored Venezuelan oil and facilitate the return of oil companies to Venezuela. Historically, India has been a significant buyer of Venezuelan oil to satisfy its energy needs, with the reopening of trade expected to diversify India’s energy imports amid rising consumption demands.
Source – sarkaritel.com
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