India’s biggest company planning big swap with Venezuela – Reuters

Washington has given Reliance Industries its approval to restart oil transactions with the sanctioned South American nation

India’s Reliance Industries is planning to pay for Venezuelan oil partly with naphtha supplies and partly with US dollars after obtaining Washington’s approval to resume oil trade with the sanctioned nation, Reuters reported on Thursday, citing sources familiar with the matter.

Reliance, which is owned by India’s richest man Mukesh Ambani...