The United States is actively negotiating with India over the potential sale of Venezuelan oil as part of efforts to help New Delhi broaden its crude oil supply base, US Envoy Sergio Gor said on Friday.
The discussions are linked to ongoing US–India trade talks, in which Washington has made diversification away from Russian crude a key condition for reducing tariffs on Indian imports. Sergio Gor told reporters in New Delhi that the US Department of Energy is in conversation with India’s Ministry of Energy, and updates on the negotiations are expected soon.
Under the interim trade agreement, US President Donald Trump has agreed to lower tariffs on Indian goods to 18% and remove a 25% punitive levy after India agreed to reduce its purchases of Russian oil. Both countries are aiming to finalise a broader trade deal “sooner than later,” with only a few details left to be ironed out.
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Sergio Gor Notes Broader Strategy to Diversify India’s Oil Sources Away from Russia
Sergio Gor said India would likely buy more oil from both the United States and potentially Venezuela. The negotiations on Venezuelan crude are part of a wider strategy to encourage India to shift away from heavy reliance on Russian oil.
Earlier efforts have seen trading firms receive licences to sell Venezuelan oil after a change in Venezuela’s leadership, and several Indian refiners — including Indian Oil Corp, Hindustan Petroleum, Bharat Petroleum, Reliance Industries and HPCL‑Mittal Energy — have already placed orders for Venezuelan crude, according to earlier reports.