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The Economic Times

Business / The Economic Times

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Reliance wins US licence for Venezuelan oil, sources say

Reliance Industries can now buy Venezuelan oil directly. The US has issued a special license. This move aims to boost Venezuela's oil exports. It will also lower crude costs for Reliance. This helps replace Russian oil supplies. Reliance previously stopped buying Venezuelan oil due to sanctions. This new license allows them to resume purchases.

13 Feb 2026 2:16 pm