The United States is handing over to Venezuela a tanker that it seized this month, two U.S. officials told Reuters on Wednesday.
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Venezuelan crude shipments under a $2 billion supply agreement with the United States have reached roughly 7.8 million barrels, but logistical bottlenecks, pricing resistance from buyers and storage overhangs are slowing progress and delaying a full reversal of output cuts.
U.S. forces seized two Venezuela-linked oil tankers—one flying a Russian flag—in the Atlantic, intensifying Trump’s push to dominate Venezuelan oil flows after capturing Maduro. China slams it as “bullying” as prices drop on expected supply surge.
Iran’s President Masoud Pezeshkian said the government’s reforms to gasoline and diesel pricing aim to eliminate rent-seeking and capital flight by depositing energy credits directly and fairly into people’s bank accounts.
The United States could raise tariffs on India if New Delhi does not meet Washington’s demand to curb purchases of Russian oil, U.S. President Donald Trump said on Sunday, escalating pressure on the South Asian country as trade talks remain inconclusive.
Trump said after Maduro’s removal that major U.S. oil companies are ready to invest billions to revive Venezuela’s battered oil sector, though analysts warn restoring production will require massive, long-term investment despite the country’s vast reserves.
The US Treasury has sanctioned four companies and four oil tankers linked to Venezuela’s “shadow fleet” as Trump ramps up pressure on Maduro. Exports have already halved due to a blockade—aimed at stopping oil profits funding alleged drug trafficking.
Despite a U.S. blockade and a sharp fall in exports, at least two oil tankers have reached Venezuela in recent days, underscoring PDVSA’s push to build floating storage and keep crude flowing—mainly to China to repay debt.
U.S. tariffs and diplomatic claims put India’s balancing act between cheap Russian oil and American demands under the spotlight as officials and industry await hard data on import cuts.
Iran will become a regional hub for energy trading by expanding its energy commerce, the country’s first vice president said.
Iran’s oil sales volume remains strong and continues at previous levels, Oil Minister Mohsen Paknejad said on Thursday.
The White House has directed U.S. forces to prioritize enforcing a quarantine on Venezuelan oil for the next two months. This signals Washington’s preference to pressure Caracas through economic leverage rather than military action.
Iraq’s supply of gas from Iran has been halted, the electricity ministry said on Tuesday, adding that the stoppage was due to the shutdown of some generating units and load shedding at others.
The U.S. intercepted an oil tanker off Venezuela just days after President Donald Trump ordered a “total and complete blockade” on sanctioned vessels, Homeland Security Secretary Kristi Noem confirmed.
The second conference on “Understanding the Indian Market and Trade Opportunities” was held on Wednesday at Iran’s Trade Promotion Organization, focusing on Iran–India economic ties and trade opportunities for 2026.
Iran and Belarus held the third virtual meeting of their joint oil industry working group to review progress and explore new opportunities for cooperation, focusing on implementing the bilateral oil memorandum of understanding between Iran’s Oil Ministry and Belarus’ Belneftekhim petrochemical association.
Indian Prime Minister Narendra Modi and Russian President Vladimir Putin reaffirmed their energy partnership in New Delhi, with Russia pledging steady fuel supplies to India despite U.S. sanctions and tariffs on discounted crude imports.
President Masoud Pezeshkian said all revenue generated from the fuel price reform plan will be spent entirely on improving people’s livelihoods and that not a single rial may be used for other government purposes.
Chinese Foreign Minister Wang Yi and UAE Foreign Minister Sheikh Abdullah bin Zayed Al Nahyan met in Abu Dhabi to pledge deeper cooperation in investment, energy, and infrastructure.
The head of Iran’s parliamentary Energy Committee said diversifying the country’s fuel mix is essential and has been clearly outlined in the Seventh Five-Year Development Plan.