economy
February 21, 2026
US wants India to buy Venezuelan oil
Washington is in discussions with New Delhi over Venezuelan oil, American Ambassador Sergio Gor has said
TL;DR
- The US is in "active negotiations" with India to persuade them to import oil from Venezuela instead of Russia.
- The US has issued licenses for trading houses to distribute Venezuelan oil.
- US Ambassador Sergio Gor confirmed discussions between the US Department of Energy and the Indian Ministry of Energy regarding Venezuelan oil.
- An executive order by US President Trump eliminated tariffs on Indian oil imports, which he claimed was linked to India agreeing to stop Russian oil deliveries.
- India has not confirmed any commitment to abandon Russian oil, stating decisions are based on 'strategic autonomy' and their best interests.
- Russia also stated it has no information about India halting Russian crude deliveries, emphasizing commercial feasibility.
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