The United States is poised to lift barriers for India to buy Venezuelan oil under a novel U.S.-controlled sales system, according to a high-ranking White House source. This could reconnect India—a major pre-sanction purchaser—with Venezuela’s reserves, addressing its relentless energy hunger through managed global distribution.
Responding to direct questions, the official affirmed the possibility with a straightforward ‘Yes,’ cautioning that specifics are in flux. This aligns with broader U.S. efforts to reintroduce Venezuelan crude responsibly.
Energy chief Christopher Wright, in Fox Business, outlined the blueprint: U.S.-facilitated sales depositing funds into monitored accounts for Venezuelan public good. Global buyers from Asia to Europe eye the oil, whose unique properties suit existing infrastructure, particularly American refineries built around it.
Echoing Trump’s hardline stance, Wright insisted on U.S. oversight to curb illicit flows and instability. No cooperation means no sales. Backed by actions like tanker seizures, the policy draws a firm line: only compliant energy trade proceeds.
At a New York summit, Wright detailed unloading 30-50 million barrels in storage, then sustaining production via U.S.-provided diluents, equipment, and investment pacts with returning oil giants.
India’s vantage is compelling: its refineries crave this heavy crude, and as a top growth market dependent on imports, renewed access diversifies sources amid volatility. Venezuela holds the planet’s largest proven reserves, making this a game-changer. Yet success hinges on execution—ensuring funds aid citizens while enforcing rules. This pragmatic pivot could ease pressures on prices and supply, benefiting consumers worldwide.