US negotiating with India on Venezuelan oil sale, US envoy says

Core Viewpoint - The United States is actively negotiating with India for the sale of Venezuelan oil to help India diversify its crude oil sources, particularly away from Russian oil, as part of a broader trade agreement [1]. Group 1: U.S.-India Trade Negotiations - The U.S. has made oil supply diversification a central condition for reducing tariffs on Indian goods, with a new interim trade deal set to take effect in April [1]. - U.S. President Donald Trump agreed to cut tariffs on Indian goods to 18% and removed a 25% punitive levy after India committed to ending Russian oil purchases [1]. - A final trade deal with India is expected to be signed soon, with only minor adjustments needed [1]. Group 2: Venezuelan Oil Sale - The U.S. has pitched the sale of Venezuelan oil to India to replace Russian oil imports, granting licenses to trading houses like Vitol and Trafigura to market Venezuelan oil [1]. - Indian companies, including state-run Indian Oil Corp, Hindustan Petroleum, and Bharat Petroleum, as well as private refiners like Reliance Industries, have placed orders for Venezuelan oil [1]. - The U.S. envoy emphasized that the negotiations are part of a commitment to ensure that no country, including India, continues to buy Russian oil [1].