Reliance Industries Eyes Venezuelan Crude Amid US Negotiations

Reliance Industries is in talks with the U.S. to resume Venezuelan oil imports. As India faces pressure to reduce Russian oil purchases, Reliance seeks alternatives. Past licenses allowed such imports, and the company is interested if U.S. regulations permit sales to non-U.S. buyers.

India's Reliance Industries is reportedly seeking approval from the United States to restart purchasing Venezuelan crude oil. The move comes as Reliance aims to secure alternative crude supplies due to international pressure on India to curtail Russian oil imports.

Reliance representatives are engaged in discussions with the U.S. State and Treasury departments to acquire the necessary authorization. This development is part of ongoing negotiations between Washington and Caracas, potentially allowing the shipment of 50 million barrels of Venezuelan oil.

While Reliance has previously held licenses to import oil from U.S.-sanctioned Venezuela, these were suspended earlier. The company has expressed willingness to procure Venezuelan crude if U.S. regulations permit sales to non-U.S. buyers, aligning with the broader geopolitical context involving the Trump administration's Venezuela policy.