White House signals India may access Venezuelan oil supplies
India’s booming energy demand depends heavily on imported oil, and Venezuela holds the world’s largest proven reserves — a fact that makes the prospect of renewed Venezuelan crude access deeply meaningful for ordinary families, businesses, and fuel-buyers in India’s fast-growing economy.
The White House has indicated it is prepared to allow India to buy Venezuelan oil under a new, tightly controlled framework overseen by the United States, signalling a possible reopening of supplies to one of Venezuela’s largest customers before sanctions were imposed. The move reflects Washington’s effort to reshape how Venezuelan crude reaches global markets while maintaining strict oversight of revenues.
A senior US administration official confirmed the willingness to allow Indian purchases when asked directly about India’s large and growing energy needs. Responding simply with “Yes,” the official declined to offer further details, saying the structure for selling Venezuelan oil is still being finalised.
The comments align with recent remarks by US Energy Secretary Christopher Wright, who has said Washington is open to selling Venezuelan oil to “almost all countries.” According to Wright, the United States is allowing Venezuelan oil to flow again, but only under a system where sales are marketed by the US government and the proceeds are placed into accounts controlled by Washington.
Under this framework, funds generated from oil sales would be directed back to Venezuela in a way that the US says would benefit ordinary Venezuelans rather than fuel corruption or strengthen the existing political leadership. Wright described the approach as a way to balance sanctions enforcement with humanitarian and economic considerations.
“There is strong interest in Venezuelan crude,” Wright said in a television interview, noting demand not only from US refiners but also from buyers in Europe, Asia, and other parts of the world. His comments suggest that India would not be treated as an exception, but as part of a broader reopening of Venezuelan oil exports under US supervision.
India’s interest is rooted in both necessity and history. As one of the world’s fastest-growing energy consumers, India relies heavily on imported oil to fuel its economy, transport sector, and industry. Before sanctions disrupted trade, Indian refiners were major buyers of Venezuelan crude, particularly because many Indian refineries are designed to process the heavy oil that Venezuela produces.
Wright also pointed out that many US refineries were historically built to handle Venezuelan crude, and that demand remains high. This shared technical compatibility has helped keep Venezuelan oil relevant in global energy discussions despite years of sanctions and declining production.
The Energy Secretary framed the policy as part of President Donald Trump’s broader strategy to enforce sanctions while reshaping Venezuela’s oil sector. “You can sell oil together with the United States, or you can not sell oil,” Wright said, presenting US control over oil flows and revenues as leverage to curb what Washington describes as criminal activity and destabilising behaviour tied to Venezuela’s past leadership.
Enforcement, Wright stressed, is central to the plan. Referring to recent US actions against sanctioned oil tankers, he said those moves were meant to show that sanctions are not symbolic.
At an energy conference in New York, Wright offered more detail on how the plan might unfold. He said the United States intends to market between 30 million and 50 million barrels of Venezuelan oil currently held in storage, followed by ongoing sales from future production. “We’re going to get that crude moving again and sell it,” he said.
The US also plans to supply diluents and allow the import of parts and equipment needed to stabilise and eventually increase Venezuelan oil production. Wright said officials are in active discussions with oil companies that once operated in Venezuela, as well as those considering a return, to understand what conditions would encourage investment.
For India, the potential reopening of access to Venezuelan oil carries both economic and strategic significance. More supply options could help cushion price volatility and support long-term energy security. For ordinary consumers, any easing of supply pressures offers hope of more stable fuel costs. While many details remain unresolved, the signal from Washington suggests a shift that could reshape energy ties across continents, with India once again positioned as a key player in Venezuela’s oil story.