New Delhi. A senior Trump government official said that the White House has indicated that it is ready to allow India to buy Venezuelan Crude Oil under a new US-controlled framework. That means Venezuelan oil can come to India. However, all this will be under American control. Venezuela cannot sell oil directly. However, the possibility of a partial resumption of trade frozen due to US sanctions has increased after signals from the White House.
But whatever oil is exported from Venezuela to different countries, America will benefit from it. Because he will take control of the sale of Venezuelan oil. That means America will have a share in the profit.
America is working on how to sell Venezuelan oil
India is not currently purchasing oil from Venezuela. Due to US sanctions, very few countries import oil from Venezuela. However, now America has gained control over Venezuela. He is trying to sell oil as per his own convenience. In such a situation, Venezuela may get exemption from sanctions. When the Trump administration official was asked whether India could buy oil from Venezuela, the official told news agency IANS: "Yes," stressing that the finer details were still being worked out.
US Open ready to sell Venezuelan crude oil to almost all countries
The official also cited recent comments by US Energy Secretary Christopher Wright, who publicly said the US would be willing to sell Venezuelan crude to 'almost all countries' if it did so through a strict framework controlled by Washington, Fox Business reported.
India was one of the biggest buyers
Before US sanctions, India was one of Venezuela's biggest buyers, importing bulk of crude for its complex refineries. Any new access could help India diversify supply at a time when demand is rising and refinery workload is also increasing.
Speaking separately at an energy conference in New York, Wright said the US planned to sell 30 million to 50 million barrels of Venezuelan oil currently in storage, followed by continued sales from future production – a move that could upend parts of the global oil trade with Washington taking full control.