US envoy says India negotiating Venezuelan oil sale talks

Venezuelan Oil – (Web Desk) – The United States has started active discussions with India to supply Venezuelan oil, aiming to help India reduce its dependence on Russian crude and diversify its energy sources. US envoy Sergio Gor said officials from the US Department of Energy and India’s Ministry of Energy are in talks, and progress is expected soon.

This move is part of a broader trade understanding between the two countries. The US agreed to lower tariffs on Indian goods to 18% after India committed to cutting its purchases of Russian oil, which Washington believes supports Russia’s war efforts.

Gor also shared that India may increase oil imports not only from the United States but possibly from Venezuela as well. Meanwhile, both sides are close to finalizing a permanent trade agreement, with only a few issues left to resolve. He added that US President Donald Trump has also been invited to visit India by Prime Minister Narendra Modi.

The interim trade deal is expected to take effect in April, and India’s trade minister confirmed that a formal announcement on reduced US tariffs will likely be issued soon.

The US and allies-imposed sanctions on Russia’s energy sector following Russia’s 2022 invasion. India then became the top customer for Russian seaborne crude which it bought at rock-bottom prices, to the consternation of Western nations.

“On the oil, there’s an agreement… We have seen India diversify on their oil. There is a commitment. This is not about India. The United States doesn’t want anyone buying Russian oil,” Gor said.

The US had pitched the sale of Venezuelan oil to India to help replace Russian oil imports, Reuters reported last month.

Pakistan Wins Global Praise: Trump Commends PM Shahbaz and Army Chief

It granted licences to trading houses Vitol and Trafigura to market and sell millions of barrels of Venezuelan oil after capturing Venezuelan president Nicolas Maduro last month and reaching a supply agreement with interim president Delcy Rodriguez.

State-run Indian Oil Corp, Hindustan Petroleum and Bharat Petroleum as well as private-sector refiners, Reliance Industries and HPCL-Mittal Energy, have ordered Venezuelan oil, Reuters has reported.