Mukesh Ambani–led Reliance Industries Ltd. has secured a special general licence from the United States that permits the company to buy Venezuelan crude oil directly without breaching U.S. sanctions, the source report said. According to the report, Reliance moved quickly after receiving the licence, purchasing roughly 2 million barrels of Venezuelan crude from trading firm Vitol. The company’s massive Jamnagar refinery in Gujarat — one of the world’s largest — and its other refining assets are expected to be the primary recipients of this supply.
U.S. sanctions had previously prevented Indian firms from buying Venezuelan oil directly, forcing Reliance and others to rely on intermediaries. Hindustan Times reported that Reliance was a regular buyer of Venezuelan crude up to 2019–20, but trade ties were disrupted when sanctions on the Maduro government were tightened. Industry observers say the new licence could boost Venezuelan exports and meaningfully lower import costs for Indian refiners.
The development comes amid high-stakes trade discussions between New Delhi and Washington. The U.S. has urged India to gradually reduce imports of Russian crude, and analysts suggest renewed access to Venezuelan crude could offer Indian refineries a viable alternative to Russian supplies. Reliance currently operates two large refineries with a combined refining capacity of about 1.4 million barrels per day.
The report also notes that U.S. President Donald Trump had lifted certain special tariffs on India, a move that could further encourage New Delhi to diversify purchases from partners such as the United States and Venezuela. Reliance has not issued an official comment on the licence; nevertheless, experts quoted in the report believe the step will strengthen India’s position in international energy markets and could deepen commercial ties between India and the United States.
Original Source: https://assam.nenow.in/reliance-industries-obtained-permission-from-the-us-to-quickly-purchase-crude-oil-from-venezuela/
Category: Popular Stories,আন্ত: ৰাষ্ট্ৰীয়,দেশ,শীর্ষ সংবাদ
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Publish Date: 2026-02-14 18:11:00
