Venezuela and India resumed oil swaps
According to Webangah News quoted by Mehr News Agency, the review of an internal document of the state oil company of Venezuela showed Pedosa and reliance, operation Swap of oil, which was stopped earlier due to the US sanctions against Caracas, has resumed.
Reliance and other Indian refineries in early 2024 will begin shipments of Venezuelan crude oil with US approval. which had expired in April this year.
Washington this July granted an individual authorization for transparency in oil trade with Venezuela.
Before Washington imposed sanctions on Caracas, India was the second largest market for Venezuela’s crude oil.
In light of the US actions and the separate licenses issued to some of the joint venture partners of Pedosa According to tanker tracking data, China has been the main destination for Venezuelan oil this year, followed by the United States and Europe.
According to this document, a giant oil tanker carrying about one million and 900 thousand barrels of Venezuela’s “Mary” type heavy crude oil was destined for India’s Sika port departed, while Reliance in return shipped 500 in December. thousand barrels delivered heavy naphtha to Pedusa.
A source told Reuters in August: Reliance, which operates the world’s largest refining complex, plans to pay the remaining crude oil purchases in cash after the exchanges, in a similar arrangement to past exchanges.
Donald Trump, the president-elect of the United States, told reporters last week: Washington to Venezuela’s oil, which is now about 240,000 barrels per day and more from the production company Chevron is exported to the United States, requires.
Potential changes in the coordinates of the US sanctions against Venezuela, which have been in place since 2019 through a combination of executive orders and authorizations, could affect the export of heavy oil from the Organization member state. oil exporting countries (OPEC) to the United States and at the same time stop importing Venezuelan oil products.
Analysts and experts say that if this happens, the barrels of Venezuelan oil that are now exported to the United States are expected to go to Asian destinations.
The Venezuelan government has announced that the US sanctions are an illegal act and an economic war designed to paralyze the Venezuelan economy.
