Venezuela plans to double oil exports to India amid US sanctions


India, the second largest consumer of Venezuelan oil after the United States, became of particular interest аor the state oil company of Venezuela, PDVSA, which came under US sanctions, because Indian refiners buy oil for cash. According to Oil Minister of Venezuela, Manuel Quevedo, he also counts on barter agreements with India, which allow the use of oil as payment. PDVSA plans to double the volume of oil supplies to India. Before the introduction of American sanctions, there were more than 300 thousand barrels per day. After the introduction of sanctions on January 28, Venezuela reduced the total volume of exported oil from 1 million 400 thousand barrels per day to 1 million 150 thousand barrels per day.

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