US control of Venezuelan oil may unlock $1 bn stuck dues for India, lift output
A potential US-led takeover of Venezuela’s oil sector could unlock nearly $1 billion in overdue payments for India and revive crude output from ONGC Videsh-operated fields. Eased sanctions may allow Indian refiners to resume imports of Venezuelan heavy crude, providing strategic supply diversification, reducing geopolitical risks, and supporting global oil market stability while benefiting India’s energy security.
