US EditionTrump says India will start buying oil from Venezuela ‘as opposed to Iran’
The U.S. is promoting Venezuelan crude to India to replace Russian and Iranian oil, with Indian imports of Russian oil expected to fall below 1 million barrels per day soon.
- Yesterday, U.S. President Donald Trump said India will buy Venezuelan oil instead of Iranian crude aboard Air Force One.
- Washington says it aims to cut Moscow's oil revenues by promoting Venezuelan crude to New Delhi as Russian imports decline amid the war in Ukraine.
- Recent licences and trader activity show how barrels are being marketed, with Venezuelan legislators reforming laws last month and the U.S. Treasury Department issuing licences to firms including Vitol, Trafigura, and Chevron Corp., with a USD 500 million sale and a 50 million-barrel offer.
- Oil industry sources say Indian refiners are diversifying supplies as Russian crude imports decline, with India not yet commenting on Trump's remarks.
- Washington is now seeking investment and larger Venezuelan shipments after President Donald Trump imposed 25% and 50% U.S. tariffs, pressing firms to invest $100 billion in oil infrastructure.
127 Articles
127 Articles
US President Donald Trump struck a deal with India this week that introduces a simple calculation.
Analysis by David Goldman, CNN President Donald Trump made a deal with India this week that introduced a simple calculation. The U.S. drastically reduces tariffs on Indian products. India stops buying Russian oil in favor of Venezuelan and U.S. crude oil. Russia will be deprived of a key customer and a source of financing for the war in Ukraine. The reality is not so simple. Venezuela's gross operation is still not up to it, and India cannot eas…
Trump: India Will Buy Oil from Venezuela in New Agreement
U. S. President Donald Trump stated that India will buy Venezuelan oil to help replace some of the Russian oil it imports. He mentioned this deal while traveling to his vacation home, confirming that the U. S. had informed India it could soon resume oil purchases from Venezuela after they stopped last year due to […] The post Trump: India Will Buy Oil from Venezuela in New Agreement appeared first on Modern Diplomacy.
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