India on Thursday reiterated that ensuring the energy security of its 1.4 billion people remains its “supreme priority” as the government responded to assertions by US President Donald Trump about changes in the country’s crude oil sourcing strategy. Officials clarified that decisions on oil imports — including any potential resumption of Venezuelan crude — will be guided by commercial viability and national interest.
Speaking at a press briefing, Ministry of External Affairs spokesperson Randhir Jaiswal said that India’s policy is market-driven and based on objective global dynamics, emphasising New Delhi’s openness to evaluating crude supplies from multiple geographies.
He said India has a “long-standing energy partnership” with Venezuela and that its involvement in that market has historically included trade and investment ties.
Navigating the Trump Claim
“As far as Venezuela is concerned, it has been a long-standing partner for India. We were importing crude oil until 2019, after which purchases stopped due to sanctions. Imports resumed briefly between 2023 and 2024, but had to be halted again because of sanctions,” he said.
He added that Indian public sector companies have existing ties in Venezuela’s energy sector and that India remains open to future options.
“Indian PSUs have established partnerships with international oil companies operating in Venezuela. Consistent with our approach to energy security, India remains open to exploring the commercial merits of any crude supply options, including those from Venezuela.”
“We remain open to exploring options of availability of crude oil from Venezuela and other places depending on its commercial viability,” Jaiswal said, underlining that any future imports would be assessed against price competitiveness, logistical feasibility and India’s refining requirements.
Venezuela Variable
The clarification follows media reports quoting President Trump claiming that India had agreed to halt Russian oil purchases as part of a broader US-India trade framework in exchange for steep tariff cuts on Indian exports.
The MEA stressed that its energy strategy is guided by national interest and evolving global supply conditions, not unilateral declarations by external actors. “All of India’s decisions were taken and will be taken with this (energy security) in mind,” Jaiswal added.
India remains one of the world’s largest crude importers, sourcing oil from Russia, the Middle East, Africa and US, as part of a diversified supply strategy. Moscow, for its part, has played down speculation about a Russian oil purchase halt, with Kremlin officials stressing that India has always maintained the freedom to source crude from multiple partners and that there has been no official communication regarding a cessation of Russian imports.
Energy analysts say that while Venezuelan crude — typically heavier and often priced at a discount — could be attractive to Indian refiners capable of processing sour grades, any resumption of significant imports will depend on pricing, freight economics and the sanctions landscape.