The US says India can buy Venezuelan oil under a new Trump-controlled system as Washington moves to sell up to 50 million barrels of crude
India May Resume Venezuelan Oil Imports as US Eases Sanctions (Source: X)
The White House has indicated that the United States is ready to allow India to buy Venezuelan oil under a new system controlled by Washington.
A senior Trump administration official said this could lead to a partial reopening of trade that had been frozen due to US sanctions.
When asked directly if India would be allowed to restart crude oil purchases from Venezuela, the official gave a clear reply: “Yes,” while adding that the full details of the plan are still being finalized.
The administration has said that Venezuelan oil would be allowed back into the global market, but only under a system run by the US government.
Energy Secretary Christopher Wright said Washington would be open to selling Venezuelan oil to “almost all countries.”
Explaining how the plan would work, Wright said, “So that oil, we’re allowing it to flow. Again, it’s marketed by the United States government. The money’s gonna flow into accounts.” This means the US would decide how the oil is sold and where the money is sent.
Before US sanctions blocked trade, India was one of Venezuela’s biggest buyers, especially of heavy crude used in advanced refineries. If India regains access, it would help the country diversify its energy supply at a time when demand is rising.
The United States plans to market between 30 million and 50 million barrels of Venezuelan oil that is already in storage. Future production would also be sold under the same US-controlled system. This could change parts of the global oil market, with Washington in a leading role.
President Donald Trump said the US will refine and sell up to 50 million barrels of Venezuelan oil under a new arrangement that began after former president Nicolás Maduro was removed from power.
At a meeting with senior officials and major oil company leaders, Trump described the plan as a fresh start for Venezuela’s oil sector. “Venezuela is going to be very successful,” he said. “We’re taking back what was taken from us.”
Trump said US oil firms would invest “at least $100 billion dollars of their money” to rebuild Venezuela’s damaged oil industry. The country has the world’s largest proven oil reserves, but production has collapsed due to years of sanctions, poor management and lack of investment.
Trump made it clear that the US government will decide which companies are allowed to invest and how much oil is produced. This shows Washington will tightly manage both money flows and oil output as the industry is reopened.
He also asked US companies to help repair Venezuela’s oil facilities and sharply raise production, calling it a major opportunity for the industry.
Under the new plan, Venezuela will sell 30 million to 50 million barrels of sanctioned crude to the United States. This comes after Maduro was captured and taken to the US, an event that has completely changed Venezuela’s political situation.
Venezuela currently has millions of barrels of oil stuck in tanks and ships because of sanctions and transport problems. US officials said Washington will control Venezuela’s oil exports for the long term, but will allow some shipments to go to buyers outside the US including India.
