Kerala can't act in Italian marines case, says Centre; Supreme Court slams stand

London, Jul 10: 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 US 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 US tightened restrictions and refiners, shippers and insurers have been steering clear of Venezuela to avoid any risk they may fall foul of sanctions.

Washington aims to deprive Venezuelan socialist President Nicolas Maduro of his main source of revenue with the sanctions, which have driven Venezuelan oil exports to their lowest level since the 1940s.

Reliance gave the US State Department and the Office of Foreign Assets Control (OFAC) notice of the diesel swap and received word back that the policies that allowed the transaction were still in place, the Reliance source told Reuters.

Reliance has previously said that its supplies of fuel to PDVSA in exchange for crude were permitted under sanctions.

An oil tanker named Commodore would load the cargo of crude in Venezuela and ship it to India, the tanker's manager NGM Energy said.

"All details of the transaction and transportation were shared with US authorities, who confirmed that the U.S. policy authorizing such transactions remained in place," NGM Energy said in a statement to Reuters.

"The shipment is made in connection with the humanitarian exchange of oil for diesel fuel."

The Commodore is loading a 1.9-million barrel cargo of crude for Reliance at Venezuela's main oil port of Jose, according to an internal PDVSA cargo schedule seen by Reuters.

The Liberian-flagged Commodore was at the Jose Terminal on Thursday, ship tracking data on Refinitiv Eikon showed.

The US State Department, Treasury's enforcement arm OFAC, and PDVSA did not immediately respond to a request for comment.

Reliance has a swap deal to provide diesel to Venezuela in exchange for fuel but has not received a cargo of crude since April. Sources at Indian refiners told Reuters earlier this year they planned to wind down their purchases of Venezuelan oil to avoid any problems with supply due to sanctions.

Other long-time customers of PDVSA, including Italy's Eni and Spain's Repsol, have continued taking cargoes of Venezuelan crude this year under permission granted by the US Treasury Department to exchange the oil for diesel supply as part of debt repayment deals, according to sources from the companies.

NGM Energy also manages the Voyager I tanker, which the United States removed from its list of sanctioned vessels last week after NGM and the ship's owner Sanibel Shiptrade said they would increase measures to ensure vessels complied with international sanctions.

"Last month, NGM Energy SA adopted a firm policy of not allowing vessels under its commercial management to trade to Venezuela, or to carry Venezuelan petroleum cargoes, absent US government authorization," NGM said.

"NGM continues to stand by that pledge."

Mumbai, Apr 14: The Shiv Sena and NCP said Prime Minister Narendra Modis address to the nation on Tuesday lacked substance as he did not suggest ways to strengthen the economy or a relief package for the poor and those worst hit by the lockdown.

Shiv Sena spokesperson Manisha Kayande also took a dig at the prime minister, saying he thankfully did not give any activity to people this time like clanging utensils or lighting lamps.

Modi on Tuesday announced that the lockdown across the country will be extended till May 3, saying the measure has produced a significant outcome in containing the infection.

He said implementation of the lockdown will be strictly ensured in its second phase and detailed guidelines will be brought out on Wednesday to ensure that outbreak does not spread to new areas.

Some relaxations may be allowed after April 20 in places where there are no hotspots, he said.

Kayande said Modi could have announced extension of the lockdown on Wednesday itself along with the new guidelines, instead of declaring it separately.

"He could have elaborated steps to be taken to tackle the coronavirus, relaxing restrictions on movements in different areas (depending upon threat posed by the disease)," she said.

"His speech normally is more of a rhetoric than substance. Thankfully, he did not give any other event to the people like lighting up lamps or clanging utensils. There was nothing substantial (in the address), the only takeaway was that the lockdown has been extended, she added.

Maharashtra Minister and NCP national spokesman Nawab Malik noted that Modi talked about helping the poor.

"But, he could have announced a package on behalf of the central government to help the poor, those working in the unorganised sector who are the worst hit due to the lockdown.

There was no mention of it anywhere," Malik said.

Another NCP spokesman Mahesh Tapase said it was expected that the prime minister would address the economic concerns being faced by the country.

"The least to expect was the announcement of a slew of measures to kick-start the economy in a phased manner as and when the restrictions are lifted, he added.

Tapase said the employers and employees wanted to know from the government how recession and unemployment will be tackled in the time to come.

"Access to capital for business, especially for MSMEs and agriculture, is a big concern. Supply and logistics is the cornerstone of economic activity which has come to a virtual standstill," he said.

The 2020-21 fiscal looks grim and hence, the right stimulus from the government coupled with a renewed zeal by the industry will only bring the economy back on track, he suggested.

New Delhi, Jun 10: Delhi recorded 1,366 fresh cases of COVID-19 on Tuesday, taking the tally to 31,309, while the death toll mounted to 905, authorities said on Wednesday.

According to a health bulletin issued by the Delhi government's health department, there are 18,543 active cases, while 11,861 patients have either recovered, been discharged or migrated.

No health bulletin was issued on Tuesday.