Ensuring energy security India’s top priority, open to explore crude supply option including Venezuela: MEA

MEA spokesperson Randhir Jaiswal

• India prioritizes energy security for its 1.4 billion citizens
• India will diversify energy sources based on market and global conditions
• India remains open to exploring crude supply options, including Venezuela

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The Ministry of External Affairs (MEA) on Thursday said that “ensuring the energy security of 1.4 billion Indians is the supreme priority of the government”.

Responding to a question on US President Donald Trump’s claims that India will stop buying Russian oil, MEA spokesperson Randhir Jaiswal said, “In so far as India’s energy security or energy sourcing is concerned, the government has stated publicly on several occasions, including by me here, that ensuring the energy security of 1.4 billion Indians is its supreme priority.”

“Diversifying energy sourcing in keeping with objective market conditions and evolving international dynamics is at the core of our strategy. All of India’s decisions are taken and will continue to be taken with this objective in mind,” he added.

Earlier when President Trump announced a trade deal between India and US, he claimed that PM Modi had agreed to "stop buying Russian Oil", and to buy much more from the US and potentially, Venezuela.

"Out of friendship and respect for Prime Minister Modi and, as per his request, effective immediately, we agreed to a Trade Deal between the United States and India, whereby the United States will charge a reduced Reciprocal Tariff, lowering it from 25% to 18%. They will likewise move forward to reduce their Tariffs and Non Tariff Barriers against the United States, to ZERO," Trump's post read.

On question regarding Trump’s statement on Venezuelan oil, Jaiswal said, “As far as Venezuela is concerned, it has been a long-standing partner for us in the area of energy, both on the trade side and as also on the investment side. We were importing energy or crude oil from Venezuela till 2019-20 and thereafter, we had to stop. Again, we started buying oil from Venezuela in 2023-2024, but had to stop which were halted because of reimposition of sanctions.”

“As you are aware that Indian PSUs, they have established partnership with the National Oil Company of Venezuela, PDVSA, and  our PSUs have maintained presence in the country since 2008. Consistent with our approach to energy security, India remains open to exploring the commercial merits of any crude supply options,” he added.