The US Secy of State also suggested scope for greater cooperation involving Venezuelan crude, adding that interim Venezuelan president Delcy Rodriguez may also visit India next week.
With Washington issuing a third 30-day waiver for Russian crude cargoes at sea, India signals continuity in import strategy while ramping up purchases from Venezuela and other suppliers.
From sanctions relief to oil oversight, Washington is guiding the transition under Delcy Rodríguez even as ordinary Venezuelans see little improvement in daily life.
Shipments to India soared by more than fourfold in March, surpassing those to the US, according to shipping reports compiled by Bloomberg & data from maritime intelligence firm Kpler.
They are two of the largest commodity trading houses: a secretive group of companies responsible for buying, selling and transporting resources to where they are needed.
In 1980, South American countries exhibited similar income levels, with Venezuela ranking among the more affluent economies. By 2023, this landscape had significantly altered.
While US & Indian officials have signaled that a deal was within reach, talks have dragged on amid disputes over tariffs, market access & protections for politically sensitive sectors.
Under the agreement, the loitering munitions will be offered to the Indian Army as part of efforts to address what the companies described as an ‘urgent requirement’.
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