Reliance Industries denied involvement in any arrangements that lead to cash payments for oil supplies to Venezuelan state oil company PDVSA via third parties, and said it is not in violation of any US sanctions, according to a statement from India’s giant oil refining company on Saturday.
Venezuela’s President Nicolas Maduro is funneling cashflow from Venezuelan oil sales through Russian state energy giant Rosneft as he seeks to evade U.S. sanctions designed to oust him from power, according to a Reuters story published on Friday. The story was based on sources and documents reviewed by Reuters.
