Can India switch from Russian to Venezuelan oil, as Trump wants?
AI Summary
In early February 2026, US President Donald Trump announced a trade deal with India, claiming Prime Minister Narendra Modi agreed to cease buying Russian oil and instead purchase crude from the US and Venezuela. The US had recently taken control of Venezuela's oil industry after President Maduro's abduction. In return, Trump reduced tariffs on Indian goods. However, India has not confirmed this agreement, and Russia states it has received no such indication from India. Analysts suggest that switching from Russian to Venezuelan oil will be complicated due to factors like market shocks, costs, geography, and oil characteristics. The US has been pressuring India to stop buying Russian oil since the Ukraine invasion in 2022, as India became a major purchaser of discounted Russian crude.
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This article was automatically classified using rule-based analysis. The political bias score ranges from -1 (far left) to +1 (far right).
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