The licence is part of Washington’s broader effort to revive Venezuela’s resource sector following the capture of then-President Nicolás Maduro two months ago.
The Indian market’s benchmark index, the BSE Sensex, crashed nearly 2,500 points on Monday morning to hit a low of 77,057, while the NSE Nifty50 fell more than 750 points to below the 23,700 level.
US President Donald Trump on Sunday dismissed the war-related spike in oil prices as a "small price to pay" for removing the "threat" of Iran's nuclear program.
