Cold response from Venezuela to India’s plan of oil for drugs

India’s oil-for-drugs barter plan with cash-strapped Venezuela to help recover millions of dollars in payments owed to some of India’s top drug makers has failed to draw a response from the Latin American nation, a senior government official said on Thursday. India has shared a draft proposal with the concerned parties such as Venezuelan government, the concerned banking institutions of Venezuela and affected companies but they are awaiting a response from Venezuela, Anice Joseph Chandra, a director at the ministry of commerce and industry said. The government has been trying to push the oil-for-drugs barter plan for months now, similar to the one it worked out with Iran when the West Asian country was facing economic sanctions from Western nations. More…