The United States has issued a general license to Reliance Industries that lets the company purchase Venezuelan crude oil without breaking US sanctions, sources familiar with the matter said.

This license allows Reliance to buy, export, and refine Venezuelan-origin oil that has already been extracted. It comes after Washington eased energy sanctions on Venezuela following the capture of Venezuelan President Nicolás Maduro earlier this month and as part of efforts to support a $2 billion oil supply deal and a $100 billion reconstruction plan for the country’s oil sector.

Granting this license could speed up Venezuela’s oil exports and help lower crude costs for Reliance, which operates the world’s largest refining complex. Reliance applied for the license in early January; company officials have not commented publicly so far.

Also Read: US to deploy second aircraft carrier to Middle East amid growing tensions

Earlier this month, Reliance bought 2 million barrels of Venezuelan oil from trader Vitol, which, along with Trafigura, has also been granted US licenses to market and sell Venezuelan crude after Maduro’s capture.

Direct purchases of Venezuelan oil will help Reliance cut dependence on Russian supplies, as heavy Venezuelan crude is sold at a discount and could be cheaper for refining. India’s refiners, including Reliance, are also avoiding Russian oil shipments for April delivery.

US President Donald Trump earlier this month removed a 25 % punitive tariff on Indian goods, saying New Delhi would buy more oil from the US and potentially from Venezuela, linking energy and trade cooperation.

Reliance had previously stopped Venezuelan oil purchases in early 2025 due to US sanctions. The new license marks a significant development as the company seeks diversified crude sources in a changing global energy landscape.