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Evaluation of the newest information exhibits {that a} US assault on Venezuela is unlikely to have a direct influence on India’s power safety.
In accordance with Ministry of Commerce and Business figures, India imported $255.3 million price of oil from Venezuela within the present monetary 12 months ending November 2025, about 0.3% of its complete oil imports throughout this era.
In 2013, India imported $13 billion price of Venezuelan crude oil. Since 2019, India has been lowering oil imports and business commerce with Venezuela in response to US sanctions and the specter of secondary sanctions.
Ajay Srivastava, founding father of the World Commerce Analysis Initiative and former Director-Common of Overseas Commerce, Authorities of India, mentioned: “Given its low commerce volumes, current sanctions constraints, and geographical distance, present developments in Venezuela usually are not anticipated to have a major influence on India’s economic system or power safety.”
Venezuela is a member of the Group of the Petroleum Exporting International locations (OPEC), a gaggle of nations that largely controls the worldwide oil market. Nevertheless, Venezuela’s crude oil manufacturing is at present comparatively low in comparison with different oil producing international locations.
In accordance with OPEC information, Venezuela accounts for about 3.5% of OPEC’s complete oil exports and about 1% of world oil provides.
This comparatively low provide is because of U.S. sanctions towards Venezuela and the heavy weight of Venezuelan oil, which requires particular refineries that almost all international locations would not have. Most of Venezuela’s oil provides go to China.
Following US actions in Venezuela over the weekend, Trump introduced that the US would take over Venezuela’s oil provides.
“We’ll rebuild our oil infrastructure, and it should value billions of {dollars}, and it should be paid for immediately by the oil corporations,” Trump mentioned in a speech after the assault. “And we’re going to get the oil again to the place it ought to stream.”
