Report: US will give Venezuelan oil to India, Trump’s meeting with oil companies; Reliance also joins the line to buy oil

India Venezuela Oil Deal: America may allow India to buy crude oil from Venezuela. According to media reports, a senior official of the Trump administration has given indications in this regard. If this happens, then this trade, which was halted due to US sanctions, can start once again, although it will be completely under American conditions and monitoring.

It is not yet clear what conditions America will set for this permission. But it is believed that big oil consuming countries like India may get relief from this.

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Reliance also wants approval

According to Reuters report, India’s big private company Reliance Industries is also seeking permission from America to buy Venezuelan oil. According to sources, Reliance is in talks with the US State Department and Treasury Department on this issue.

Reliance’s aim is to increase its oil supply options, because there is increasing pressure from western countries to reduce oil imports from Russia.

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India has already bought Venezuelan oil

America had imposed strict economic sanctions on Venezuela in 2019, after which India stopped buying oil from there. At that time India used to take about 6 percent of its total oil imports from Venezuela.

However, during 2023-24, when the US relaxed the sanctions for some time, India again bought limited quantities of oil from Venezuela. Later in 2025, America again increased the strictness, due to which this import almost stopped again.

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Trump’s meeting with big oil companies

Meanwhile, US President Donald Trump held a meeting with top executives of the world’s big oil companies at the White House. In this, big investment in Venezuela’s oil sector was discussed.

Trump said that America will decide which companies will invest in Venezuela. He says that the profits from oil will be divided between Venezuela, America and the companies.

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Why is this decision important for India?

India is the third largest oil consumer country in the world. If America allows India to buy oil from Venezuela, then India can get cheap and alternative oil sources. This will help in meeting the growing energy needs of the country and can also improve the balance of import dependence.

At present, all eyes are on America’s next decision, because that will decide whether India and Indian companies will be able to buy oil from Venezuela on a large scale again or not.

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