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India may potentially resume the import of Venezuelan crude oil after the U.S. relaxed trade restrictions on the South American country. India has, however, said that the larger principle that guides India's oil buying is the principle of energy security. The country has said that it will decide on Venezuelan crude import depending on the country’s overall demand outlook. The U.S. eased trade, financial and oil sanctions on Venezuela after the country’s President Nicholas Maduro and the opposition agreed to electoral guarantees for the 2024 presidential elections.
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