It is reported that the United States has issued a license to India's Reliance, allowing it to purchase Venezuelan oil directly.

⑴ According to two sources familiar with the matter, the United States has issued a general license to India's Reliance Industries Limited, allowing the refinery to directly purchase Venezuelan oil without violating sanctions. ⑵ Earlier, after the U.S. arrested Venezuelan President Maduro, U.S. officials stated that Washington would ease sanctions on Venezuela's energy sector. ⑶ This move aims to facilitate a $2 billion oil supply agreement between Caracas and Washington. ⑷ The agreement also involves a $100 billion plan to rebuild Venezuela's oil industry. ⑸ The general license authorizes the purchase, export, and sale of already-extracted oil of Venezuelan origin, including the refining of such oil. ⑹ Issuing the license to Reliance is expected to accelerate Venezuelan oil exports and reduce crude oil costs for the world's largest refinery operator. ⑺ Reliance applied for the license in early January, and the company did not respond to an email request for comment.