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Venezuelan situation to have negligible impact on India’s energy security, data shows
Venezuela strikes to have little impact on India’s energy security, show data
The U.S. attack on Venezuela is unlikely to have any direct impact on India's energy security, an analysis of the latest data shows.
Numbers from the Ministry of Commerce and Industry show that India imported $255.3 million worth of oil from Venezuela in the current financial year up to November 2025, about 0.3% of its total oil import during this period.
U.S. military strikes on Venezuela LIVE updates
In 2013, India had imported as much as $13 billion worth of Venezuelan oil. Since 2019, India has been cutting its oil imports and commercial engagements with Venezuela in response to U.S. sanctions and threats of secondary sanctions.
“Given the low trade volumes, existing sanctions constraints, and the large geographical distance, the current developments in Venezuela are not expected to have any meaningful impact on India's economy or energy security,” Ajay Srivastava, founder of the Global Trade Research Initiative and former Director General of Foreign Trade for the Indian government, said.
Venezuela is a member of the Organization of the Petroleum Exporting Countries (OPEC), a group of countries that largely dominates the global oil market. However, Venezuela currently produces a relatively small amount of crude oil compared to the other oil-producing nations.
According to OPEC data, Venezuela accounts for about 3.5% of the OPEC's total oil exports, and about 1% of global oil supplies.
This relatively low supply is due to the U.S. sanctions on Venezuela and the heavy nature of Venezuelan oil, which requires special refineries that most countries do not have. Most of Venezuela's oil supply goes to China.
Following the U.S. actions in Venezuela over the weekend, Mr. Trump announced that the U.S. would take over Venezuela's oil supply.
“We are going to rebuild the oil infrastructure, which will cost billions of dollars, it will be paid for by the oil companies directly,” Mr. Trump said in his address following the attack. “And we are going to get the oil flowing the way it should be.”
Published - January 04, 2026 01:40 pm IST
Venezuela / India / U.S. action on Venezuela
Source: TheHindu
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