The US has found a way to reduce Russian oil supplies to India. The plan is for India to replace Russian oil with Venezuelan oil. This was reported by Reuters agency, citing sources.
Collage: neftegaz.ru
India promised to reduce purchases of Russian oil after the US increased tariffs for it. In the coming months, a reduction in imports by several hundred thousand barrels per day is planned. The US goal is to reduce Russia's oil sales revenue, which finances the war in Ukraine.
It is not yet clear whether Venezuelan oil will be supplied through international companies, such as Vitol or Trafigura, or simply through the state company PDVSA.
India became the main buyer of Russian oil after sanctions were imposed against Russia in 2022. Indian Oil Minister Hardeep Singh Puri stated that the country is diversifying its supply sources as Russian oil imports decline. Currently, India buys about 1.2 million barrels per day; in February, about 1 million is planned, and in March, about 800,000 barrels. In the future, purchases may decrease to 500-600 thousand barrels per day, which will help India conclude a trade agreement with the US.
In December, Russian oil imports to India were the lowest in two years, and the share of OPEC countries in imports reached an 11-month high. Indian refineries are increasing oil purchases from the Middle East, Africa, and South America to replace Russian oil.
In 2025, US President Donald Trump introduced 25% tariffs on countries purchasing Venezuelan oil, including India. However, after the US strengthened control over Venezuela's oil industry following the capture of Nicolás Maduro earlier this year, the situation changed.
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