After nearly a year of suspending imports by mid-2025, India's energy giant Reliance Industries has officially resumed purchasing Venezuelan crude oil. The restart of this trade chain stems from India's need for diversified energy supplies, as well as the key backdrop of the U.S. recently easing sanctions on Venezuela's oil industry and facilitating its crude oil's return to the international market.

According to informed sources, Reliance Industries has successfully received a Very Large Crude Carrier (VLCC) loaded with approximately 2 million barrels of crude oil, completing the first shipment since resuming purchases. In fact, India and Venezuela have long engaged in crude oil trade. Even before this import suspension, Reliance Industries had been conducting Venezuelan crude oil import operations for years under U.S. sanctions exemptions. In 2019, the company's purchases accounted for 25% of Venezuela's total crude oil exports, making it a key overseas buyer.

This resumption of purchases by Reliance Industries relies on the policy window created by the U.S. Treasury Department's conditional easing of sanctions on Venezuela's oil industry in January 2026. As a result, Reliance Industries obtained the relevant transaction license issued by the U.S., achieving a compliance-level restart of purchases and becoming the core entity Venezuela's crude oil return to the Asian market following the eased sanctions.

From：ChemNet