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US Clears Path for India to Buy Venezuelan Oil

2/1/2026

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Summary

US Supports India's Oil Transition

The United States told India it can resume purchasing Venezuelan oil to replace declining Russian imports.
India aims to cut Russian oil imports to below one million barrels per day, down from 1.2 million bpd in January.
The United States previously imposed tariffs on India for buying Venezuelan oil.
Nicolás Maduro’s capture may shift trade dynamics, affecting prices and India’s fuel costs and government revenue.

History

Historical Context

In 2019, the U.S. recognized Juan Guaidó as Venezuela's interim president, challenging Nicolás Maduro's regime amid a political crisis that began with disputed elections in 2018. Sanctions imposed by the U.S. and allies reduced Venezuela's oil exports by over 50%, exacerbating the country's economic collapse, which has driven millions to flee since 2015.

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US Supports India's Oil Transition

The United States told India it can resume purchasing Venezuelan oil to replace declining Russian imports.
India aims to cut Russian oil imports to below one million barrels per day, down from 1.2 million bpd in January.
The United States previously imposed tariffs on India for buying Venezuelan oil.
Nicolás Maduro’s capture may shift trade dynamics, affecting prices and India’s fuel costs and government revenue.

1 / 2