India Prioritizes Energy Security, Explores New Crude Options Including Venezuela: MEA

• The Ministry of External Affairs (MEA) stated India is open to exploring new crude oil supply options, including from Venezuela, to ensure energy security.
• Decisions on energy imports are based on commercial viability and India's long-term energy needs.
• Venezuela was a major crude supplier until FY 2019–20, with imports resuming briefly in FY 2023–24 before sanctions were re-imposed.
• Indian public sector undertakings have maintained a partnership with Venezuela’s national oil company, PdVSA, since 2008.
• India's energy strategy focuses on diversifying sources, including Russian oil, guided by market realities and global dynamics; US tariffs on Made in India products reduced to 18%.