Washington, DC (US): The White House has indicated that the United States is prepared to allow India to purchase Venezuelan crude oil under a new US-controlled export framework, a senior Trump administration official told the media. This marks a major shift in US policy toward Venezuela’s oil sector and could partially reopen trade that was largely frozen by American sanctions over recent years.
When asked directly whether Washington would permit India to resume purchases of Venezuelan oil, a commodity that once formed a meaningful part of India’s crude import basket, the senior official responded with a clear affirmative: “Yes,” while noting that the finer operational details are still being worked out.
US Open To Selling Venezuelan Crude To 'Almost All Countries'
The official also referenced recent comments from US Energy Secretary Christopher Wright, who publically stated that the US would be open to selling Venezuelan crude to 'almost all countries' if done through a tightly controlled structure overseen by Washington, as reported by Fox Business.
Under this arrangement, Venezuelan oil would be marketed by the US government and proceeds would flow into accounts managed by US authorities, with the aim of preventing corruption and benefiting the Venezuelan people rather than the prior Maduro regime.
Before stringent American sanctions were imposed, India was one of Venezuela’s largest customers, Indian refiners regularly imported heavy Venezuelan crude to process in their complex refineries, where such grades are a good technical fit. Sanctions, however, curtailed these flows, reducing Venezuelan crude’s share of India’s overall imports to marginal levels in recent years.
The US framework comes as Washington contemplates marketing between 30 million and 50 million barrels of Venezuelan crude currently in storage, with future sales also on the table, a step that could reshape parts of the global oil trade with the US playing a central controlling role.
While this potential policy shift could offer India relief amid rising energy demand, it remains contingent on final regulatory details and approvals. Both Indian refiners and policymakers are watching closely as discussions progress.
