India Becomes Biggest Buyer Of Venezuelan Oil After US Sanctions – Reports


India Becomes Biggest Buyer Of Venezuelan Oil After US Sanctions – Reports

India has been importing 620,000 barrels of Venezuelan crude oil a day since early February, up 66 percent from the previous month, the NDTV news channel reported.

Overall Venezuelan exports fell to 1.1 million barrels a day this month, or 9.2 percent since January when Venezuelan oil shipments to the United States were called off in the wake of the sanctions.

The United States blocked around $7 billion in assets belonging to Venezuela’s state oil firm PDVSA and began transferring control over them to Venezuelan opposition leader Juan Guaido, who on January 23 proclaimed himself as Venezuela’s interim president. Read more

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