Indian "Reliance" Gets U.S. Green Light to Import Venezuelan Oil

The United States has granted Indian company Reliance Industries a general license allowing it to purchase Venezuelan oil directly, without violating previously imposed sanctions, including refining and exporting.

The license is expected to accelerate Venezuelan oil exports and reduce crude costs for the world's largest refinery operated by the Indian company, especially as it seeks to replace Russian oil with a cheaper source.

This move comes after the arrest of Venezuelan President Nicolás Maduro, prompting Washington to ease sanctions on the Venezuelan energy sector as part of a plan to rebuild this sector worth $100 billion, according to U.S. officials.

Reliance had previously purchased two million barrels of Venezuelan oil through U.S.-licensed oil trading companies but stopped buying in early 2025 due to sanctions. Now, the new license allows it to purchase directly to operate its refinery with a total capacity of 1.4 million barrels per day.