Reliance wins US licence for Venezuelan oil The United States has granted a general licence to Reliance Industries Ltd allowing it to import Venezuelan oil directly without breaching U.S. sanctions. This licence lets Reliance buy, export and sell Venezuelan-origin crude that’s already been produced. The move comes as Washington is easing sanctions on Venezuela’s energy sector following recent political shifts there, including a reported change in leadership and a U.S.–Venezuela oil supply deal. Reliance had stopped buying Venezuelan crude in early 2025 due to sanctions; the new licence enables it to resume imports and potentially reduce reliance on Russian oil, benefiting from discounted heavy crude grades. Earlier this month, Reliance also purchased 2 million barrels of Venezuelan oil through traders who got U.S. licences to market Venezuelan crude. The licence could boost Venezuelan exports and help Reliance’s complex refineries run at higher capacity.