This report covers an offer from the Trump administration to sell Venezuelan oil to India under a framework controlled by Washington. An Unidentified speaker discusses the implications for Indian companies like ONGC and Oil India, which have investments stuck in Venezuela. The speaker notes that if the deal proceeds, it could be a ‘breather for these companies, including Reliance getting another place rather than buying oil from Russia… or for that matter, Iran.’ The analysis suggests that while this presents an opportunity, it could also lead to significant losses for Indian public sector undertakings if past dues are not cleared.
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