Indian state-run ONGC secures US license to resume full operations in Venezuela
The Indian Ministry of External Affairs confirmed on August 18, 2026, that the Oil and Natural Gas Corporation (ONGC) has received a specific license from the U.S. Office of Foreign Assets Control (OFAC). This authorization allows the company to resume full-scale oil production and sourcing operations in Venezuela, bypassing previous sanctions restrictions. The move is part of India’s strategy to diversify energy sources, even as U.S. reports highlight that billions in Venezuelan oil revenue remain missing from monitored accounts.
Date: August 18, 2026
Location: Caracas, Venezuela
Conflict: Venezuela Crisis
Category: sanctions
Severity: MEDIUM
Source: ANI News