Overview
- U.S. Ambassador Sergio Gor said Washington is in active negotiation on selling Venezuelan crude to India and expects updates soon.
- The U.S. Department of Energy is in direct discussions with India's Ministry of Energy about potential volumes and arrangements, according to Gor.
- India's trade minister Piyush Goyal said an interim deal lowering U.S. tariffs on Indian goods to 18% is slated to take effect in April pending formal notification.
- U.S. tariff relief has been linked to India reducing Russian oil intake, with Trump saying he lifted a punitive levy after a commitment to stop buying from Moscow as Indian refiners cut Russian cargoes.
- Washington previously issued licenses to Vitol and Trafigura to market Venezuelan barrels after Nicolás Maduro was ousted and a supply understanding was reached with interim leader Delcy Rodríguez.