India advises refiner to avoid U.S. system for Venezuela oil buying


India advises refiner to avoid U.S. system for Venezuela oil buying

India has asked one buyer of Venezuelan oil to consider paying the South American nation’s national oil company PDVSA in a way that avoids the U.S. financial system, an Indian government source said, after Washington imposed fresh sanctions on Venezuela last month.

The United States is seeking to cut off Venezuela’s oil revenue and pressure the nation’s President Nicolas Maduro to step down after it recognised opposition leader Juan Guaido as head of state.

The sanctions mean that if oil buyers pay PDVSA through the U.S. banking system, the funds could be seized by U.S. authorities. Read More

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