NEW DELHI/MEXICO CITY: India’s Reliance IndustriesNSE -0.93 %, operator of the world’s biggest refining complex, has turned to selling fuels to Venezuela from India and Europe to circumvent sanctions that bar U.S.-based companies from dealing with state-run PDVSA, according to trading sources and Refinitiv Eikon data.
Reliance had been supplying alkylate, diluent naphtha, and other fuel to Venezuela though its U.S.-based subsidiary before Washington in late January imposed sanctions aimed at curbing the OPEC member’s oilNSE -0.49 % exports and ousting Socialist President Nicolas Maduro.
