India reiterated its commitment to prioritizing energy security, stating that the government’s strategy to diversify energy sources is influenced by market conditions and global dynamics. The Ministry of External Affairs spokesperson highlighted that ensuring energy security for India’s 1.4 billion people is a fundamental goal guiding all decisions. The country remains open to exploring various crude oil supply options, including reevaluating engagement with Venezuela.
India’s longstanding partnership with Venezuela in energy, trade, and investment sectors was underscored by the MEA spokesperson. Despite interruptions due to sanctions, Indian PSUs have maintained ties with Venezuela’s National Oil Company, PDVSA, since 2008. Prime Minister Narendra Modi recently discussed enhancing bilateral relations with Venezuela’s Acting President, focusing on areas such as trade, investment, energy, technology, health, agriculture, and people-to-people connections.
