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US negotiating with India on Venezuelan oil sale, US envoy says
The US aims to help India diversify oil sources away from Russia by negotiating Venezuelan oil sales tied to tariff cuts on Indian goods to 18%, officials said.
- On Friday in New Delhi, U.S. envoy Sergio Gor said Washington is in active negotiation over selling Venezuelan oil to India to diversify supplies, and 'The Department of Energy is speaking to the Ministry of Energy here, and so we're hoping to have some news of that very soon.'
- The U.S. has tied trade concessions to oil supply diversification, with President Donald Trump this month agreeing to cut tariffs on Indian goods to 18% under an interim trade deal, which India's trade minister Piyush Goyal said is set to take effect in April.
- Licences authorised trading houses Vitol and Trafigura to market Venezuelan oil after Nicolás Maduro's capture last month, while Indian Oil Corp, Hindustan Petroleum, Bharat Petroleum, Reliance Industries, and HPCL-Mittal Energy have ordered it.
- Sergio Gor said a final deal will be signed 'sooner than later' as 'the Department of Energy is speaking to the Ministry of Energy here, and so we're hoping to have some news of that very soon.'
- Having become a top buyer of Russian crude, Reuters reported last month the U.S. pitched Venezuelan oil to India to help replace Russian imports and removed a 25% punitive levy after India ended Russian purchases.
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New Delhi., the United States negotiates with India to sell it Venezuelan oil, reported yesterday the U.S. ambassador to New Delhi, Sergio Gor. Before the White House increased sanctions against the Latin American nation, Caracas was one of India’s leading suppliers of crude oil.
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CNN GreeceNew Delhi is trying to reduce its dependence on Russian oil, and Washington is urging it to turn to Caracas.
Coverage Details
Total News Sources45
Leaning Left8Leaning Right9Center7Last UpdatedBias Distribution38% Right
Bias Distribution
- 38% of the sources lean Right
38% Right
L 33%
C 29%
R 38%
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