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India's Reliance wins US licence for Venezuelan oil: Reuters
The U.S. Treasury's license enables Reliance Industries to import Venezuelan crude, aiding India’s shift from Russian oil amid broader U.S.-India trade and energy supply goals.
- On February 13, 2026 the United States authorised Reliance Industries to buy, export and sell Venezuelan crude under a general licence, Reuters reported.
- The U.S. has eased sanctions to resume Venezuelan oil flows, a move framed as selective relaxation to stabilize markets, according to Reuters and sources. Reliance applied for a licence last month, allowing direct purchases.
- Reliance, which runs the Jamnagar refining complex, applied to the U.S. Treasury's Office of Foreign Assets Control last month for a general licence allowing direct purchases rather than through traders.
- The authorization may boost Reliance's exports and reshape global crude flows, but market participants are expected to proceed cautiously given licence conditions and uncertainties.
- The authorisation positions Venezuelan crude as a diversification option for Indian refiners, with licences remaining conditional and subject to potential tightening by U.S. policy makers if risks emerge.
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The Economic Times
The Economic TimesReliance wins US licence for Venezuelan oil, sources say
Reliance Industries can now buy Venezuelan oil directly. The US has issued a special license. This move aims to boost Venezuela's oil exports. It will also lower crude costs for Reliance. This helps replace Russian oil supplies. Reliance previously stopped buying Venezuelan oil due to sanctions. This new license allows them to resume purchases.
·India
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Total News Sources24
Leaning Left3Leaning Right3Center3Last UpdatedBias Distribution34% Left, 33% Center, 33% Right
Bias Distribution
- 34% of the sources lean Left, 33% of the sources are Center, 33% of the sources lean Right
34% Left
L 34%
C 33%
R 33%
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