Venezuela is open to barter payment arrangements with India as it seeks workarounds to U.S. sanctions imposed in late January, Venezuelan Oil Minister Manuel Quevedo said on Monday.

Caracas, which buys medicines and other products from India, is looking for alternative payment methods to keep oil flowing to what is now its first destination for crude exports after its U.S. customers froze purchases due to sanctions. Quevedo said he wants to double sales to India, which last year bought more than 340,000 barrels per day (bpd) from Venezuela.

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