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2026-02-13 16:43:11
[US Grants License to Reliance Industries Allowing Direct Purchase of Venezuelan Oil] ⑴ Two sources familiar with the matter said the United States has granted Reliance Industries Limited a general license, allowing the refinery to directly purchase Venezuelan oil without violating sanctions. ⑵ Earlier, after the US arrested Venezuelan President Maduro, US officials said Washington would ease sanctions on Venezuela's energy sector. ⑶ This move aims to facilitate a $2 billion oil supply agreement between Caracas and Washington. ⑷ The agreement also involves a $100 billion rebuilding plan for Venezuela's oil industry. ⑸ The general license authorizes the purchase, export, and sale of Venezuelan-origin, extracted oil, including refining it. ⑹ Granting the license to Reliance is expected to accelerate Venezuelan oil exports and reduce crude oil costs for the world's largest refinery operator. ⑺ Reliance applied for the license in early January. The company did not respond to emails requesting comment.
