Earlier this week, U.S. National Security Advisor John Bolton warned countries and companies against buying crude oil from Venezuela, after the Latin American country’s Oil Minister Manuel Quevedo said during a surprise visit to India that Venezuela wants to sell more oil to the fast-growing Indian market.
India will look into commercial considerations and related factors to determine the value of oil imports from any country, an Indian official said, after a top US official warned countries against buying oil from Venezuela.
At the start of the Venezuelan political crisis last month, Indian media reported that the Asian country continues to be one of the main buyers of Venezuelan crude oil.
Indian refiners are still buying more than 400,000 bpd of oil from the troubled Latin American country, which is sitting on the world’s largest crude oil resources.
Venezuela is the chair of OPEC and GECF. We don’t have any barter system with Venezuela; commercial considerations and related factors will determine the value of trade which we have with any country.
While the USA and a handful of European regimes have recognized self-proclaimed opposition leader Juan Guaidó as the interim president of Venezuela, while India and many more global nations back the socialist democracy elected by the people.
India views that it is for the people of Venezuela to find political solution to resolve their differences through constructive dialogue and discussion without resorting to violence.”
RT. com / ABC Flash Point OPEC News 2019.