Under the new United Nation controlled framework, Donald Trump administration is open to sell Venezuelan oil to India, this development has come amidst the ongoing tariff pressure from the U.S. to stop India from Russian crude trade. As per a source, this move came after Caracas and Washington struck a deal to export up to $2 billion worth of Venezuelan crude, almost 30-50 million barrels. This came after the US President captured former Venezuelan President Nicolas Maduro.
During an interview with a news agency, one of the senior Trump administration officials has confirmed that the U.S. is willing to sell Venezuelan oil to India. It was only after America curtailed trade that India stopped buying Venezuelan crude.
How The Oil Sale System Will Work
When a reporter asked the official about the Venezuelan oil trade with India, he noted that the US Energy Secretary Christopher Wright has recently said that Washington is open to sell Venezuelan oil across the world. Wright, further noted that the oil would be sold across the world, but in a more structured way and the U.S. will oversee this. “So that oil, we’re allowing it to flow. Again, it’s marketed by the United States government. The money’s going to flow into accounts,” he said. He noted that money would be then after redirected to Venezuela so that it “benefits the Venezuelan people, not corruption, not the regime.” Wright highlighted that there is a huge demand of Venezuelan crude across the world, not just in US, “in Europe and Asia and all around the world.”
