The United States has pitched the resumption of Venezuelan oil purchases to India, as Washington pushes New Delhi to reduce its dependence on Russian crude amid rising trade pressure and tariffs, according to a Reuters report.
The United States has suggested that India may soon resume purchases of Venezuelan oil as part of a push to reduce New Delhi’s dependence on Russian crude, amid mounting pressure after tariffs took effect, Reuters reported.
The move is part of a broader US effort to steer India’s oil imports away from Russia while recalibrating energy ties between the two countries. Sources cited by Reuters said India is likely to cut Russian crude imports by several hundred thousand barrels per day in the coming months.
Renewed India–Venezuela engagement
Washington’s pitch of Venezuelan oil comes amid renewed diplomatic engagement between New Delhi and Caracas. Venezuela’s interim president Delcy Rodríguez said on Friday that she had agreed with India on energy cooperation during a telephone conversation with Prime Minister Narendra Modi.
The call came a day after Venezuela opened its hydrocarbons sector to private companies. PM Modi said in a post on X after speaking with Rodríguez that the two sides had “agreed to further deepen and expand our bilateral partnership in all areas, with a shared vision of taking India-Venezuela relations to new heights in the years ahead.”
Venezuela opens oil sector to private investment
Venezuela, which holds the world’s largest proven oil reserves, has recently reformed its laws to allow private investment in the energy sector. The move marks a significant departure from decades of state control and is aimed at attracting foreign capital and reviving its struggling oil industry.
Trump imposed 25 per cent tariffs in March 2025 on countries buying Venezuelan oil, including India, as his administration intensified pressure on Venezuelan President Nicolás Maduro.
US forces captured Maduro on January 3, after which Washington began directing the Caracas government and announced plans to control Venezuela’s oil industry indefinitely.
India looks to diversify crude imports
India became a major buyer of Russian oil after Russia’s invasion of Ukraine in 2022 triggered Western sanctions and discounted prices. However, growing US pressure and rising trade costs have pushed India to diversify its crude imports.
Oil minister Hardeep Singh Puri said last week that India is expanding its sourcing options as Russian imports decline. US tariffs on Indian goods rose to 50 per cent in August after Washington imposed an additional 25 percent levy over India’s purchases of Russian oil. Operational challenges linked to Western sanctions have also encouraged Indian refiners to increase imports from alternative suppliers.
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