No confirmation from India yet
Washington DC (USA) – India will now buy oil from Venezuela instead of buying crude oil from Iran. US President Donald Trump stated that India signed an agreement to import oil from Venezuela. The Indian Government has not given any official response about this as yet.
The US had imposed strict economic sanctions on Venezuela in 2019. The US had also imposed secondary sanctions, meaning that any country or oil company that buys oil from Venezuela may be prevented from trading in the US market or providing banking facilities. Due to this, many countries stopped buying Venezuelan oil. India too used to import oil from Venezuela in large quantities.
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