US Licenses Reliance for Venezuelan Oil
Analysis based on 9 articles · First reported Feb 13, 2026 · Last updated Feb 13, 2026
The market is positively impacted by the United States easing sanctions on Venezuela, allowing Reliance Industries to secure cost-effective crude oil. This move is expected to boost Venezuela's oil exports and reduce crude costs for Reliance Industries, while also strengthening trade ties between the United States and India.
The United States has issued a general license to Reliance Industries, allowing the Indian refiner to directly purchase Venezuelan oil without violating sanctions. This development follows the US capture of Venezuelan President Nicolás Maduro, after which US officials announced an easing of sanctions on Venezuela's energy industry to facilitate a $2 billion oil supply deal and a $100 billion reconstruction plan. The license enables Reliance Industries to replace Russian oil with discounted Venezuelan crude, reducing costs for its refining complex. This move also aligns with improved India-United States trade relations, including the removal of a 25% punitive tariff on India by Donald Trump, and Indian refiners avoiding Russian oil purchases. Reliance Industries, a former regular buyer of Venezuelan oil, had ceased purchases in early 2025 due to US sanctions.
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