According to three sources familiar with the situation, Washington has informed New Delhi about the possibility of resuming purchases of Venezuelan oil. This decision is also aimed at helping India replace its oil imports from Russia.
Trump also added that China may show interest in a deal with the U.S. to purchase Venezuelan oil.
U.S. Control Over the Sale of Venezuelan Oil
The resumption of oil supplies from Venezuela became possible after a recent U.S. military operation that resulted in the detention of former Venezuelan leader Nicolás Maduro. According to sources, the Venezuelan state oil company PDVSA has begun to increase production volumes after the restoration of exports under U.S. control.
Under a new agreement with Caracas, the U.S. has already started selling Venezuelan oil. The first revenues from the deals, amounting to approximately $500 million, are held in bank accounts controlled by U.S. authorities. The total amount of the agreement is about $2 billion, and the main account is opened in Qatar for neutral transactions.
On January 29, the Venezuelan parliament passed a law that opens the oil sector to private investors in accordance with U.S. requirements.
