U.S. and India: A New Dawn in Venezuelan Oil Trade

The United States is actively negotiating the sale of Venezuelan oil to India as part of efforts to help India diversify its crude oil sources, according to U.S. Envoy Sergio Gor. This initiative aims to reduce India's reliance on Russian oil, aligning with U.S. conditions for cutting tariffs on Indian imports.

U.S. President Donald Trump recently agreed to reduce tariffs on Indian goods to 18% under an interim trade deal. This move follows India's agreement to stop purchasing Russian oil, a significant shift given its previous role as a top buyer of Russian seaborne crude.

The U.S. has issued licenses to trading houses Vitol and Trafigura for marketing and selling large quantities of Venezuelan oil. Major Indian refiners, both state-run and private, have already placed orders for these oil shipments, marking a new chapter in Indo-U.S. energy cooperation.