BILLIONAIRE Mukesh Ambani’s Reliance Industries Limited has received a US general licence to purchase Venezuelan crude oil directly, enabling India’s largest private refiner to resume imports of discounted heavy feedstock that aligns with its Jamnagar refinery configuration and optimises refining margins. Reliance, which operates the world’s largest single-site refining complex at Gujarat’s Jamnagar, was among international companies which in late January got a general licence from the US for buying Venezuelan oil directly without violating sanctions, sources aware of the matter said. Since capturing Venezuelan President Nicolas Maduro last month, the US has eased sanctions on the South American nation’s energy industry to resume the flow of oil from the country that holds the world’s largest reserves. Reliance did not respond to requests for comments. So far, the US has permitted the sale of Venezuelan oil through traders, but now a general licence will give authorisation to purchase of oil directly from an entity that already extracted it from below ground or is in possession of it. Reliance was a regular buyer of Venezuelan crude before the US slapped sanctions on Nicolas Maduro’s regime in 2019-20. It bought oil when the US introduced a temporary sanctions relief in 2024.