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Major oil traders plan to resume selling Venezuelan oil to China and India

Major oil traders plan to resume selling Venezuelan oil to China and India

Tamara Vasylchuk Journalist

14 January 2026, 12:00

Major oil traders plan to resume selling Venezuelan oil to China and India — A crude oil tanker in Maracaibo, Venezuela. Photographer Maryorin Mendez AFP Getty Images

Vitol and Trafigura, after prior approval from the US, started negotiations with major Asian refiners on possible supplies of Venezuelan crude oil.

Global oil traders Vitol Group and Trafigura Group are in talks with leading oil refiners in China and India about the possible resumption of Venezuelan crude oil exports. It is reported by Bloomberg with reference to informed sources.

According to the agency's interlocutors, traders contacted key Asian buyers last weekend, just a few days after the US government gave them a preliminary green light to market Venezuelan oil. Negotiations are at an early stage and no formal commercial offers have been made.

At the same time, Vitol and Trafigura are assessing interest in Venezuelan crude from US refineries. Representatives of both companies refrained from commenting.

Asia has remained a key market for Merey's Venezuelan crude during the years of sanctions. China has traditionally been the main buyer, importing crude at significant discounts. Indian companies, in particular Reliance Industries, also used to accept Venezuelan cargoes, but in 2025 some of them suspended purchases after US President Donald Trump's decision to impose a 25 per cent duty on countries buying energy from Venezuela.

According to market estimates, refiners in India and China are now exploring the possibility of returning to Venezuelan oil as an additional source of supply amid oversupply on the global market. The final decisions are expected to depend on further clarification and formal confirmation from Washington on the sanctions regime and control of financial flows from such transactions.

Source and photo by Bloomberg
Venezuela, USA, Trump, India, China

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