The White House is considering permitting India to purchase Venezuelan oil under a new US-controlled system. This move could potentially reopen supplies to one of Venezuela’s main pre-sanctions customers. An administration official confirmed the US’s readiness to allow India to buy Venezuelan oil, highlighting India’s significant energy requirements.
Energy Secretary Christopher Wright’s statements on Fox Business revealed that the US is open to selling Venezuelan oil to various countries. The US government would oversee the marketing of oil sales, with proceeds directed into accounts controlled by Washington. This approach aims to ensure that the funds benefit the Venezuelan people and not the regime.
The Energy Secretary emphasized that the US is allowing Venezuelan oil to flow again, with strong interest from US refiners and buyers worldwide. The policy is part of President Donald Trump’s strategy to enforce sanctions and reshape Venezuela’s oil sector. Wright underscored that only legitimate and lawful energy commerce, as determined by the US, would be permitted.
US officials plan to market millions of barrels of Venezuelan oil currently in storage and facilitate ongoing sales of future production. They are engaging with oil companies to discuss conditions for investment in Venezuela. The possibility of India regaining access to Venezuelan oil could help diversify India’s energy imports amid its growing demand and Venezuela’s abundant oil reserves.
