Venezuela Crisis: India's Bilateral & Trade Links Under Scrutiny

• India expressed deep concern over Venezuela's political uncertainty and called for peaceful dialogue.
• India and Venezuela share 65 years of "warm relations," with diplomatic ties strengthened by energy cooperation since Hugo Chavez's 2005 visit.
• High-level engagements continued despite Venezuela's isolation, including EAM Jaishankar's meetings and Delcy Rodríguez's visits.
• India was a major buyer of Venezuelan crude, but US sanctions halted imports in 2020; trade revived in 2023-24 after temporary easing of curbs.
• Bilateral trade, heavily reliant on oil, saw a peak of $6.397 billion in 2019-20 and rose to $1.175 billion in 2023-24.

Why It Matters: India balances diplomatic concern with strategic energy and trade relations amidst Venezuela's turmoil.