India Hopes to Import More Iranian, Venezuelan Crude
LONDON (Dispatches) - India hopes it could diversify its oil suppliers under the new U.S. Administration that could relax restrictions on oil exports from Iran and Venezuela, India’s Oil Minister Dharmendra Pradhan told Bloomberg TV in an interview.
"Some geopolitical changes are there,” Pradhan told Bloomberg, referring to expected policies from U.S. President Joe Biden.
The Indian minister reiterated his remarks from last month when he said that the world’s third-largest oil importer would like to have more opportunities to work for diversifying its sources of crude, including by resuming oil imports from Venezuela and Iran under President Biden.
The Trump Administration had stepped up sanctions against Iran and Venezuela since 2018, looking to cut off oil sales from the two countries.
"Some geopolitical changes are there,” Pradhan told Bloomberg, referring to expected policies from U.S. President Joe Biden.
The Indian minister reiterated his remarks from last month when he said that the world’s third-largest oil importer would like to have more opportunities to work for diversifying its sources of crude, including by resuming oil imports from Venezuela and Iran under President Biden.
The Trump Administration had stepped up sanctions against Iran and Venezuela since 2018, looking to cut off oil sales from the two countries.