India boosts Venezuelan oil imports after temporary US sanctions break
Business
India is making the most of a temporary break in US sanctions on Venezuela, ramping up its oil imports from the country.
With fewer payment restrictions since April 2026, Indian refineries are grabbing this chance to mix up their supply, especially with all the uncertainty in West Asia.
Still, everyone is keeping things flexible since US sanctions could snap back at any time.
Venezuela becomes India's 4th-biggest supplier
Venezuela has shot up to become India's fourth-biggest oil supplier, even overtaking Iraq and the US for now.
In August 2026 alone, it sent 444,000 barrels per day to India.
But Venezuelan crude is not exactly easy to handle: it is heavy and takes more effort (and money) to refine, plus shipping it across the world adds extra costs.