Reliance Industries is currently awaiting clarity on access for Venezuelan oil by non-U.S. buyers and will consider buying the oil in a compliant manner, the company’s spokesperson said on Friday (January 9, 2026).

On January 3, United States carried out a large-scale strike against Venezuela and captured their President Nicolas Maduro along with his wife. Earlier this week, U.S.’ Energy Secretary Chris Wright held Washington would control sales of the South American country, estimated to possess 303 billion barrels of crude oil reserves, “indefinitely”.

“We await clarity on access for Venezuelan oil by non-U.S. buyers and will consider buying the oil in a compliant manner,” Reliance Industries’ spokesperson said in a statement.

The Hindu’s analysis of data from the Ministry of Commerce and Industry shows that India imported $255.3 million worth of oil from Caracas in the ongoing financial year until November 2025, which works out to 0.3% of the total oil imported during the period.

In 2013, India imported as much $13 billion worth of Venezuelan oil. However, since 2019, New Delhi has been curtailing their imports from the South American country following U.S.’ sanctions of Venezuelan-state owned companies and vessels alongside threats of secondary sanctions.