'India Open to Exploring Commercial Merits of Any Crude, Including Venezuelan Oil': MEA

New Delhi: India on Thursday reiterated that its crude oil sourcing decisions remain guided by commercial viability and the paramount priority of ensuring energy security for its 1.4 billion people, responding to recent claims by US President Donald Trump.

Ministry of External Affairs (MEA) spokesperson Randhir Jaiswal addressed media queries on potential imports from Venezuela and Trump's assertion that India has agreed to halt purchases of Russian oil in favor of increased sourcing from the United States and possibly Venezuela.

Jaiswal described Venezuela as a long-standing energy partner for India in both trade and investment.

"As far as Venezuela is concerned, it has been a long-standing partner for us in the area of energy, both on the trade side and also on the investment side. We were importing energy and crude oil from Venezuela until 2019-20, after which we had to stop. Again, we began buying oil from Venezuela in 2023-24 but had to stop after sanctions were reimposed," he said.

"Consistent with our approach to energy security, India remains open to exploring the commercial merits of any crude supply, including from Venezuela," he added.

Following the announcement of the India-US trade deal on Monday, Trump claimed that New Delhi would stop buying Russian oil and shift toward increased purchases from the United States and Venezuela.

"We spoke about many this including Trade, and ending the War with Russia and Ukraine agreed to stop buying Russian Oil, and to buy much more from the United States and, potentially, Venezuela. This will help THE WAR in Ukraine, which is taking place right now, with thousands of people dying each and every week!" Trump wrote on his Truth Social post earlier this week.

On Trump's claims following a recent telephonic conversation with Prime Minister Narendra Modi and the announcement of a bilateral trade understanding, under which US tariffs on Indian goods have been reduced to 18% (with confirmation from both sides, though the deal is still being finalized), Jaiswal firmly restated India's position.

"Ensuring the energy security of 1.4 billion Indians is the supreme priority of our government," he said.

"Diversifying our energy sourcing in keeping with objective market conditions and evolving international dynamics is at the core of our strategy. All of India's decisions were taken and will be taken with this in mind," he added.

The spokesperson made no commitment to halting Russian oil imports, underscoring that decisions are based on national interest and pragmatic assessments rather than external assertions.

The remarks coincide with ongoing India-US engagements, including External Affairs Minister S Jaishankar's visit to the United States for the Critical Minerals Ministerial, where bilateral cooperation and global issues were discussed.

Russia has also responded to the developments, with officials stating there is no indication India plans to reconsider its energy cooperation with Moscow, describing such trade as mutually beneficial and stabilizing for global markets.

"No reason to believe India has reconsidered its approach to energy cooperation with Russia," Russian Foreign Ministry Spokesperson Maria Vladimirovna Zakharova said, adding, "The trade in resources is beneficial for both sides and contributes to maintaining stability in the international energy market."

Kremlin Spokesman Dmitry Peskov also said, "We, along with all other international energy experts, are well aware that Russia is not the only supplier of oil and petroleum products to India. India has always purchased these products from other countries. Therefore, we see nothing new here."