US offers Venezuelan oil to India

The US informed Delhi that it is now possible to buy Venezuelan oil. Last year, Trump imposed tariffs on India for buying Venezuelan oil. So the White House is trying to help India replace imported Russian oil.

India has promised to sharply reduce purchases of Russian oil after Washington also increased duties related to this activity, writes xrust. Delhi plans to reduce imports of Russian oil by several hundred thousand barrels per day in the coming months.

In March 2025, President Donald Trump imposed 25 percent tariffs on goods from countries that buy Venezuelan oil, including India, and his administration intensified the campaign against Venezuelan President Nicolas Maduro, whom US troops captured on January 3.

Washington has since taken over the government of Caracas and plans to control Venezuela's oil industry indefinitely. The US attempts to supply Venezuelan oil to India come against the backdrop of Washington's desire to reduce revenues from Russian oil.

Indian Oil Minister Hardeep Singh Puri said last week that India is diversifying its oil supply sources due to a decline in Russian oil imports.

Two Reuters sources reported that India is preparing to soon reduce imports of Russian oil to below one million barrels per day.

Imports are expected to eventually fall to about 500,000 to 600,000 barrels per day, which will help the country reach a trade agreement with the United States.

In August, US tariffs on Indian goods reached 50% after Washington imposed an additional 25% duty on Russian oil purchases. Problems caused by Western sanctions eventually prompted Indian refineries to increase imports from other sources.

Trade data showed India's Russian oil imports fell to their lowest level in two years in December, pushing OPEC's share of Indian imports to an 11-month high.

Indian refineries have increased oil purchases from the Middle East, Africa and South America to compensate for reduced Russian oil imports.

Xrust US offers Venezuelan oil to India