As Venezuela continues to dominate global headlines, questions mount as to what it could mean for India’s energy market. New Delhi, which is facing US tariffs imposed by President Trump for its continued purchase of Russian oil, is keen to stitch up an FTA deal with the Americans. Experts believe that conditions or the deal may include increased purchase of American oil, something that the US president has repeatedly called on India to do.

The question then arises: would Trump push New Delhi towards buying Venezuelan oil, which he now sees as American oil, instead of Russian? Experts dub this scenario as unlikely in the near future, stating that much needs to be sorted out in the Latin American nation before the question of oil sales to any country can be talked about. The Venezuelan oil industry is still to find its feet. Statistics released by the US Energy Information Administration show that since US sanctions were imposed in 2019, the Latin American nation has produced a total of 1.14 million........

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