The brand of Reliance Industries
| Photograph Credit score: Reuters
Reliance Industries has obtained approval from the USA to renew importing oil from Venezuela, Bloomberg Information reported on July 24, citing individuals conscious of the event.
The nod comes months after the refiner resubmitted a license request to the U.S. to import crude oil from sanctioned Venezuela and resume commerce between the OPEC producer and the as soon as second-largest vacation spot for its oil.
Reliance didn’t instantly reply to Reuters’ request for remark. Indian refiners resumed buying Venezuelan oil by means of intermediaries after Washington quickly lifted its curbs on the South American nation final October. The sanctions had been imposed in 2019 in response to President Nicolas Maduro’s failure to satisfy his election commitments.
