RIL clears air on Venezuela oil ties

Reliance Industries, operator of the world’s largest oil refining complex, on Friday said in a statement it was not breaching US sanctions against Venezuela.

The company said its recent fuel exports to Venezuela were agreed to before Washington imposed sanctions in January, and that they were meant to settle Reliance’s crude oil imports from Venezuela.

Reliance said it has been in “continuous communication with the US Department of State regarding its activities in Venezuela” since the imposition of sanctions. The State Department referred a request for comment to the Treasury Department which did not immediately respond.