India Prioritizes Energy Security, Open to Venezuela Crude Supply: MEA

M
Moneycontrol•05-02-2026, 14:40
India Prioritizes Energy Security, Open to Venezuela Crude Supply: MEA
- •MEA states that ensuring energy security for 1.4 billion Indians is the government's supreme priority.
- •India's strategy involves diversifying energy sourcing based on market conditions and international dynamics.
- •MEA spokesperson Randhir Jaiswal responded to former US President Donald Trump's claims about India stopping Russian oil purchases.
- •India previously imported crude oil from Venezuela until 2019-20, resumed in 2023-24, but halted due to sanctions.
- •Indian PSUs have a long-standing partnership with Venezuela's PDVSA since 2008 and remain open to exploring crude supply options.
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