💨 Abstract

Two Indian state refiners, Indian Oil Corp (IOC) and Mangalore Refinery and Petrochemicals (MRPL), have purchased a combined 2 million barrels of Venezuelan crude oil from trading house Vitol for November delivery. The U.S. Treasury Department has authorized these transactions despite sanctions on President Nicolas Maduro's government. The crude will be shipped to India on the vessels Boston and Degas.

Courtesy: theprint.in