US Offers India Venezuelan Oil, But With a Catch: Washington to Control Sales
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News18•10-01-2026, 21:41
US Offers India Venezuelan Oil, But With a Catch: Washington to Control Sales
- •The US has offered India crude oil from Venezuela as an alternative to Russian oil, but under strict US control.
- •A senior White House official confirmed that India might be allowed to purchase Venezuelan oil, with terms still being determined.
- •US Energy Minister Christopher Wright stated that Venezuelan oil sales and earnings would be supervised by the US, not Venezuela directly.
- •Venezuelan heavy crude is highly suitable for India's complex refineries, making it an attractive option for diversifying energy sources.
- •Former US President Donald Trump outlined plans to refine and sell up to 50 million barrels of Venezuelan oil and invest $100 billion in its oil sector, with US control over investments.
Why It Matters: India can buy Venezuelan oil, but the US will control its sale, price, and earnings, creating new strategic dependence.
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