The US is planning to resume sales of Venezuelan oil to India to replace imports from Russia.

Axar.az reports, citing Reuters.

It is noted that India has promised to reduce its purchases of Russian crude oil following the US's imposition of tariffs on it. India also plans to reduce imports of Russian oil by several hundred thousand barrels per day in the coming months:

“The US’s attempt to supply Venezuela’s oil to India comes against the backdrop of Washington’s desire to reduce Russia’s oil revenues.

It is not yet clear whether the Venezuelan oil will be sold through foreign trading companies such as Vitol or Trafigura, or directly by Venezuela’s state oil company PDVSA.”

It is reported that India was buying about 1.2 million barrels per day in January. According to forecasts, purchases will decrease to about 1 million barrels per day in February and to 800,000 barrels per day in March.