Reliance eyes US approval to import Venezuelan oil to India: Reports

India’s Reliance Industries Ltd. is seeking approval from the United States to resume purchases of Venezuelan crude oil, according to information from industry reports, as the country’s largest private refiner looks to secure supplies amid Western pressure on India to reduce Russian oil imports.The company is in discussions with the U.S. State and Treasury departments to obtain the necessary authorisation to resume Venezuelan oil imports, people familiar with the matter told news agencies. If granted, the permit would allow Reliance to source Venezuelan crude — currently under U.S. sanctions — for its extensive refining operations in India.
Venezuelan relief for India?
According to information, Reliance had previously received special U.S. licences permitting it to import Venezuelan oil, and the state-owned Petroleos de Venezuela S.A. (PDVSA) supplied it with around 63,000 barrels per day in the first four months of 2025 before most licences were suspended. The last Venezuelan shipment to India arrived in May 2025, after which U.S. authorities threatened tariffs on buyers of Venezuelan crude while tightening pressure on Caracas.Under the current regulatory environment, Reliance has stated it will consider buying Venezuelan crude oil if sales to non-U.S. buyers are permitted under U.S. law. “We await clarity on access for Venezuelan oil by non-U.S. buyers and will consider buying the oil in a compliant manner,” a company spokesperson said in a statement responding to media queries.
The move comes as India faces geopolitical pressure from Western nations to diversify away from Russian energy supplies amid global energy market shifts and geopolitical tensions. Venezuelan crude, typically heavier and discounted relative to other grades, could offer a strategic alternative for Reliance’s refineries, which are configured to handle such grades.Negotiations over Venezuelan oil are also unfolding at the international level, with Washington and Caracas in talks about planned shipments of roughly 30 to 50 million barrels following significant political developments in Venezuela. Other global oil traders and refiners, including Chevron, Vitol and Trafigura, are also pursuing licences to handle Venezuelan oil under evolving U.S. policies.If the U.S. grants the requested permit, it could enable Reliance to diversify its crude supply mix and help reduce dependency on Russian oil, aligning with both corporate strategy and broader diplomatic considerations.