US control of Venezuelan oil may unlock $1 bn stuck dues for India, lift output
Published on: Jan. 4, 2026, 5:22 p.m. | Source: Daily Excelsior
NEW DELHI, Jan 4: A US-led takeover or restructuring of Venezuela’s oil sector could deliver a direct benefit to India, potentially unlocking close to USD 1 billion in long-pending dues while accelerating the revival of crude production from fields it operates in the sanctions-hit Latin American nation, analysts and industry sources said. India was once a major processor of Venezuelan heavy crude, importing more than 4,00,000 barrels per day at peak levels, until sweeping US sanctions and rising compliance risks […]
