Reliance to load Venezuelan oil cargo under fuel swap deal: Report

India's Reliance will load its first cargo of Venezuelan crude in three months this week in exchange for diesel under a swap deal the parties say is permitted under the U.S. sanctions regime on the Latin American country, according to a Reliance source and a shipping document from state oil firm PDVSA.

Washington has exempted some Venezuelan oil trade from sanctions, when transactions are in exchange for fuel and food or to repay debts rather than for cash. But that trade slowed as the U.S. tightened restrictions and refiners, shippers and insurers have been steering clear of Venezuela to avoid any