US EditionTrump says India will start buying oil from Venezuela ‘as opposed to Iran’
The US is promoting Venezuelan crude to India to reduce Russian and Iranian oil imports amid sanctions, with a deal for 50 million barrels reportedly in place, Trump said.
- Yesterday, U.S. President Donald Trump said India will buy Venezuelan oil instead of Iranian crude aboard Air Force One.
- Washington says it aims to cut Moscow's oil revenues by promoting Venezuelan crude to New Delhi as Russian imports decline amid the war in Ukraine.
- Recent licences and trader activity show how barrels are being marketed, with Venezuelan legislators reforming laws last month and the U.S. Treasury Department issuing licences to firms including Vitol, Trafigura, and Chevron Corp., with a USD 500 million sale and a 50 million-barrel offer.
- Oil industry sources say Indian refiners are diversifying supplies as Russian crude imports decline, with India not yet commenting on Trump's remarks.
- Washington is now seeking investment and larger Venezuelan shipments after President Donald Trump imposed 25% and 50% U.S. tariffs, pressing firms to invest $100 billion in oil infrastructure.
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96 Articles
Trump: India Will Buy Oil from Venezuela in New Agreement
U. S. President Donald Trump stated that India will buy Venezuelan oil to help replace some of the Russian oil it imports. He mentioned this deal while traveling to his vacation home, confirming that the U. S. had informed India it could soon resume oil purchases from Venezuela after they stopped last year due to […] The post Trump: India Will Buy Oil from Venezuela in New Agreement appeared first on Modern Diplomacy.
Washington, United States. U.S. President Donald Trump said on Saturday that he would accept Chinese investments in the oil industry of Venezuela, which seeks to revive his economy after the departure of its ruler Nicolás Maduro.Venezuela has one of the largest proven reserves of crude oil in the world, and in the last week reformed its laws to open the sector to private and foreign investment.China was the main buyer of Venezuelan oil under Mad…
US President Donald Trump said on Saturday, Air Force One, that the United States is in favour of China and India's investments in Venezuela's oil industry, he transmitted Bloomberg.
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