New Delhi: In a significant shift in US energy policy following the dramatic ouster of Venezuelan President Nicolás Maduro, the Trump administration has signalled its willingness to permit India to resume purchases of Venezuelan crude oil — under strict Washington-controlled rules.
A senior White House official confirmed to reporters that the US is “ready and willing” to allow India to buy Venezuelan oil as part of a broader effort to market the country’s sanctioned crude globally. This comes after US forces captured Maduro on January 3, paving the way for a new framework where Washington oversees sales of 30-50 million barrels of existing stockpiled Venezuelan oil, with future production also subject to US oversight.
In recent interviews and a New York energy conference, US Energy Secretary Christopher Wright emphasised that the US is resuming extraction and sales, but only under strict rules, allowing “almost all countries” to participate.
President Donald Trump, addressing oil executives at the White House, framed the move as an economic reset, declaring, “Venezuela will be very successful,” and highlighting the revival of its vast reserves.
India, once a major buyer of heavy Venezuelan crude suited to its complex refineries, had halted imports due to US sanctions. The new policy could help diversify supplies amid pressure on New Delhi to reduce reliance on Russian oil. Companies like Reliance Industries are reportedly in talks for US permits to resume purchases.
The development marks a pragmatic turn in Trump’s Venezuela strategy, balancing control over the sector with opportunities for allies like India to access affordable energy amid rising global demand.