US Oversight of Venezuelan Oil Could Unlock Indian Pharma Dues, Revive Exports
Business
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Moneycontrol•14-01-2026, 14:29
US Oversight of Venezuelan Oil Could Unlock Indian Pharma Dues, Revive Exports
- •US control over Venezuelan oil assets post-Maduro capture may help Indian pharma companies recover millions in stalled payments.
- •This shift could resolve the "dollar crunch" that has hindered Indian exporters to Venezuela.
- •Venezuela was once a significant market for Indian pharma, with Dr Reddy's facing a Rs.508.5 crore hit in FY16 due to payment issues.
- •Despite past challenges, Venezuela's pharmaceutical imports grew to $538 million in 2024, driven by generics.
- •US-led restructuring of Venezuela's oil sector could provide stable dollar funding, enabling repatriation of unpaid dividends and renewed exports.
Why It Matters: US oversight of Venezuelan oil offers a potential path for Indian pharma to recover dues and re-enter a key market.
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