The main client of the Maduro dictatorship is in danger: India warns companies that do not buy Venezuelan oil

The Indian government has lobbied for a reduction in Venezuelan oil imports in line with US sanctions imposed on the national oil company PDVSA, said Monday the Indian secretary for oil and gas, MM. Kutty. CERAWeek, an oil forum taking place in Houston.

Kutty told reporters that state-owned companies imported little or no Venezuelan oil and stressed that The Indian government has alerted private companies about the risks of commercial relations with the mature dictatorship. "We informed them of the sanctions and the consequences that they could have," he said.

The refining sector in India is heavily dependent on heavy crude oil. It is the main trading country with Venezuela and one of the few markets where Venezuelan oil continues to arrive.

On January 28, the US government imposed stiff sanctions on PDVSA, the Venezuelan oil company, which was blocking $ 7 billion, while the administration of Donald Trump announced the transfer of control of accounts of the company. Juan Guaidó, who was sworn in as interim president on 23 January.

"Maduro and his collaborators have too long used the PDVSA state-owned company to control, manipulate and steal the Venezuelan people, and have destroyed it in this process," said Secretary of State Mike Pompeo , announcing the measure last January.

The United States requires payments made to PDVSA to be made through frozen accounts, thereby prohibiting the United States from importing Venezuelan crude. In addition, transactions between non-US companies and PDVSA involving the US financial system or US commodities dealers will be prohibited as of April 28.

According to Secretary Kutty, India imports about 83% of its oil and about 50% of its natural gas. The country was one of eight countries to obtain an exception compared to the United States when sanctions on Iranian crude were reconstituted last November. The suspension ends in May, but Kutty has avoided saying whether the US would extend it or whether there would be any changes. "We dialogue with them, we will see what happens," said the secretary, adding, "We have time, the United States understand our difficulties."