Archive · 31 Jan 2026
US Offers Venezuelan Oil to India
The US is offering India oil from Venezuela to help India buy less oil from Russia.
India has been buying a lot of oil from Russia, but the US wants to stop this because Russia is using the money to fund a war.
The US has also put tariffs on India for buying oil from Venezuela in the past, but now they are saying India can buy it again.
India is also talking to other countries about making new trade deals.
The US and India are working on a big trade deal to make their trade double by 2030.
India is also talking to the new leader of Venezuela to make their countries work together more.
The US offered India Venezuelan oil to replace Russian imports, which India is reducing.
India is on track to lower its Russian oil imports to below one million barrels per day soon.
The US imposed 25% tariffs on countries buying Venezuelan oil, including India, in 2025.
India and Venezuela agreed to deepen their partnership in various areas, including trade and energy.
The US and India are working on a Bilateral Trade Agreement (BTA) to double their trade to USD 500 billion by 2030.
- Who
- US, India, Venezuela
- What
- US offers Venezuelan oil to India to replace Russian imports
- When
- After US imposed tariffs and political changes in Venezuela
- Where
- India, Venezuela, US
- Why
- To reduce Russian oil revenues funding the war in Ukraine and replace Indian oil imports
- Countries Involved
- US, India, Venezuela
- Oil Imports
- India reducing Russian oil imports
- US Tariffs
- 25% on Venezuelan oil, 50% on Indian goods
- US Officials
- President Donald Trump, Treasury Department
- Context
- Ukraine war, Venezuelan political changes
- India's Oil Sources
- Middle Eastern, African, South American countries
- Trade Deal
- Potential US-India trade deal
Sources
US calls EU-India trade deal ‘very disappointing’
India In Talks With US, Canada, Chile To Close More Trade Deals Soon
'Lots of Positive Expectations': UN Chief Guterres Lauds India-EU Trade Deal
India EU FTA emerges as flashpoint for Trump administration: Brahma Chellaney on US’ ‘coercive diplomacy’
'Angoor khatte hain': Piyush Goyal flags Cong's handling of free trade agreements amid India-EU deal criticism
US proposes Venezuelan oil swap to India to curb Russian crude reliance – trade talk bargaining chip?
US offers Venezuelan oil to India to cut Russian crude imports
PM Modi speaks to Venezuela acting President, vows to deepen ties and expand cooperation
