The strife-torn country is looking for alternative payment methods to keep oil flowing to India, a crucial export market, especially after the United States imposed sanctions curbing the Opec member's crude exports to the United States. "We all can build one economy and that economy does not necessarily have to be within the dollar economy," Manuel Quevedu said, referring to China, Russia and India. Quevedu, who on Monday said Caracas was open to barter trade with New Delhi, declined to disclose details on how he planned to do business with India. Venezuela is supplying oil to all of its clients including Reliance Industries despite sanctions, Quevedu said. Reliance, which pays for a significant amount of its purchases from state-owned PDVSA (Petróleos de Venezuela, SA) in cash, supplies fuel to Venezuela through its US unit RIL, PDVSA's internal trade records show.

Source: Dhaka Tribune February 12, 2019 17:37 UTC