US in active talks with India over Venezuelan oil sales
The United States is in “active negotiation” with India over the potential sale of Venezuelan oil, U.S. envoy Sergio Gor said on Friday, as Washington seeks to help New Delhi diversify its crude oil sources.
Gor, speaking on the sidelines of an event in New Delhi, said the U.S. Department of Energy is in discussions with India’s Ministry of Energy and hopes to have updates soon, News.Az reports, citing Reuters.
The talks are underway against the backdrop of a broader interim trade deal between the two countries.
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Under the interim agreement, Washington agreed to cut tariffs on Indian imports to 18% from higher levels, and part of the framework includes encouraging India to move away from reliance on Russian crude — which the U.S. says helps fund Russia’s war in Ukraine — and toward other suppliers.
President Donald Trump has said India would buy more oil from the U.S. and potentially from Venezuela as a result of the deal. The interim tariff arrangement is expected to go into effect in April.
State-owned and private Indian refiners — including Indian Oil Corporation, Hindustan Petroleum, Reliance Industries, and HPCL-Mittal Energy — have already placed orders for Venezuelan crude, according to Reuters.
By Nijat Babayev
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