Venezuela turns to India for oil exports as US sanctions bite
Houston/Mexico City/Moscow: Venezuelan oil company PDVSA is looking to double exports to India as US sanctions hobble deliveries to the United States and Europe.
The United States and most Western countries have recognized opposition leader Juan Guaido as Venezuela’s head of state, but President Nicolas Maduro retains the backing of Russia and China as well as control of state institutions including the military.
The country’s oil exports since the sanctions took effect on 28 January have fallen to 1.15 million barrels per day (bpd) of crude and refined products, Refinitiv Eikon data showed, down from about 1.4 million bpd.
