US Lifts Sanctions on Venezuela's Acting President, Boosting Indian Oil Purchases

Caracas: India's oil purchases from Venezuela are increasing rapidly. Indian refiners used to sell the most oil from Venezuela to China, but in recent weeks have emerged as the largest buyers of Venezuelan crude. India is replacing China as the largest buyer of Venezuelan oil. This comes after a change of government earlier this year, especially in oil-rich Venezuela. Meanwhile, the US has announced the lifting of sanctions on Venezuela's acting President Delcy Rodriguez. This will increase Delcy's decision-making power and could benefit India. Donald Trump on Wednesday lifted sanctions on Delcy Rodriguez. This is similar to the US recognition of Rodriguez as the legitimate authority in Venezuela. He has returned to command the country after the US military invaded the Venezuelan capital of Caracas on January 3 this year and captured then-President Nicolas Maduro.