Reliance Seeks US Approval for Venezuelan Oil Purchases

Reliance Industries, a big company in India, wants to buy oil from Venezuela again.

They need permission from the U.S. government to do this.

The U.S. has rules about buying oil from Venezuela.

Reliance used to buy oil from Venezuela before, but the U.S. stopped most of these sales.

Now, they are talking to the U.S. to start buying again.

The U.S. says it is ready to allow India to buy Venezuelan oil under a framework that is still being finalized.

The U.S. wants to sell up to 50 million barrels of Venezuelan crude under a new arrangement.

The U.S. also wants big oil companies to invest in Venezuela to expand its oil production.

Reliance has big oil refineries that can use the kind of oil Venezuela sells.

They used to be one of the biggest buyers of Venezuelan oil before the U.S. made rules about it.

The U.S. is also putting pressure on countries like India, China, and Brazil to stop buying Russian oil.