The United States is prepared to allow India to purchase Venezuelan oil under a new US-controlled framework, a senior administration official was quoted as saying, signalling a potential reopening of supplies to one of Venezuela’s major pre-sanctions buyers.
The official told international media that details were still being worked out, adding that oil sales would be marketed by the US government, with proceeds placed in Washington-controlled accounts.
US Energy Secretary Christopher Wright said funds would be routed in a manner that benefits the Venezuelan people and not corruption.
Wright said there was strong global interest in Venezuelan crude and that the US plans to sell up to 50 million barrels currently in storage, followed by ongoing production.
India, a major energy importer, was among Venezuela’s biggest buyers before sanctions disrupted trade.
