US Pitches Venezuelan Oil to India to Offset Russian Supplies
The US is reportedly offering India Venezuelan crude oil to help replace Russian supplies, according to Reuters. This initiative comes as Washington aims to diminish Russia's oil revenues, which fund the war in Ukraine, and after India pledged to reduce its Russian oil imports due to increased US tariffs. The US has taken control of Venezuela's oil industry following President Maduro's detention, facilitating this proposed exchange.
The article reports that the United States is actively proposing Venezuelan crude oil to India as an alternative to its current Russian oil imports. This strategic move, reported by Reuters citing informed sources, is unfolding against a complex geopolitical backdrop. The US aims to reduce the flow of revenue to Russia, which is critical for financing the ongoing conflict in Ukraine, by encouraging countries like India to diversify their energy suppliers away from Moscow. This offer comes despite previous US actions, including President Donald Trump's imposition of 25% tariffs in March 2025 on nations purchasing Venezuelan oil, India included. However, a significant shift occurred after the detention of Venezuelan President Nicolas Maduro on January 3, following which Washington began administering Caracas and declared intentions to control Venezuela's oil industry indefinitely. This new control evidently allows the US to facilitate oil sales from Venezuela. India, for its part, has already committed to reducing its reliance on Russian crude oil, especially after Washington increased tariffs on such imports. India's Minister of Petroleum and Natural Gas, Hardeep Puri, has expressed expectations for a continued decline in Russian oil imports as the world's third-largest oil buyer seeks more diverse sources. The details regarding whether international trading giants or Venezuela's state oil company PDVSA would handle the sales remain undisclosed. This situation highlights the US's proactive role in reshaping global energy markets to achieve specific foreign policy objectives, particularly concerning the Ukraine conflict.
