Overview
- A senior Trump administration official confirmed the U.S. would permit India to resume Venezuelan crude purchases under a Washington-controlled arrangement that remains unfinished.
- Energy Secretary Christopher Wright said the U.S. is open to selling Venezuelan oil to “almost all countries” through a government-run system with proceeds directed to U.S.-managed accounts for the benefit of Venezuelans.
- Washington is weighing sales of 30 million to 50 million barrels currently in storage as part of the controlled framework, with potential for additional volumes later.
- President Trump has said the U.S. would refine and sell up to 50 million barrels of Venezuelan crude under the new arrangement.
- India, historically a major buyer of Venezuelan heavy crude, is evaluating the option to diversify supply as refiners and policymakers await operational and regulatory specifics.