US offers India Venezuelan oil to replace Russian supplies – Reuters
According to Ukrinform, Reuters stated this in an article, citing informed sources.
US President Donald Trump imposed 25% tariffs in March 2025 on countries that buy Venezuelan oil, including India.
After the detention of Venezuelan President Nicolas Maduro on January 3, Washington began administering the government in Caracas and plans to control the country's oil industry for an indefinite period.
US efforts to supply Venezuelan crude oil to India are taking place as Washington also seeks to reduce revenues from Russian oil, which finances the war in Ukraine.
The sources did not provide details on whether Venezuelan oil would be sold by international oil trading giants such as Vitol or Trafigura, or whether it would be sold directly by Venezuela's state oil company PDVSA.
India has pledged to cut purchases of Russian crude oil after Washington also raised tariffs on the country over these imports, and the country intends to reduce Russian oil imports by several hundred thousand barrels per day in the coming months.
As Ukrinform previously reported, India's Minister of Petroleum and Natural Gas Hardeep Puri expects imports of Russian crude oil to India to continue declining as the world's third-largest buyer of the fuel diversifies its suppliers.
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