Venezuela courts India, talks barter to skirt US sanctions


Venezuela courts India, talks barter to skirt US sanctions

Venezuela’s oil minister Manuel Quevedo on Monday made a surprise appearance at an ongoing industry conference in Delhi’s outskirts, offering India a barter deal to keep its oil flowing as the strife-torn country battles hyper-inflation caused by collapsing crude prices and US sanctions.

Quevedo was originally not confirmed as attending Petrotech 2019, the bi-annual conference to showcase India’s prowess in the hydrocarbons sector. But the career military officer, who also heads Venezuela’s national oil company PdVSA, came by to meet his Indian counterpart Dharmendra Pradhan on the sidelines of the conference.

“We have a good relationship with India… The relationships will continue, the trade will continue and we will simply expand all the trade and relationship… Read More

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