Reliance Industries Limited (RIL) has publicly stated its intention to consider resuming purchases of Venezuelan crude oil, contingent on receiving clear guidance regarding US regulatory frameworks for non-US buyers. This development comes amidst significant geopolitical shifts, including the United States reportedly asserting control over Venezuela's oil sales following the alleged capture of Venezuelan President Nicolas Maduro on January 3, 2026. A senior White House official and US Energy Secretary Chris Wright have indicated that the US is prepared to facilitate India's access to Venezuelan oil under a new, US-controlled sales framework. Wright emphasized that only 'legitimate and lawful energy commerce, as determined by the US,' would be permitted, and that the US plans to market Venezuelan oil globally, including to buyers in Asia. Previously, RIL, which operates the world's largest refining complex, ceased importing Venezuelan crude in March 2025 after the US imposed a 25% tariff on countries buying oil from Venezuela, with its last shipment received in May 2025. India's overall imports of Venezuelan oil had significantly declined, becoming a marginal supplier due to sanctions. Analysts suggest that if Venezuelan crude re-enters global markets at a discount, it could significantly benefit compatible Indian refiners like RIL, Indian Oil Corporation (IOC), and Hindustan Petroleum Corp (HPCL), offering improved feedstock optionality and potentially serving as a politically viable alternative to Russian oil. The current situation highlights India's strategic balancing act in its energy procurement amidst evolving international sanctions and trade dynamics.