India remains open to exploring merits of any crude supply options: MEA

India on Thursday said it remains consistent with its energy security approach and is open to exploring the commercial merits of any crude supply options, following US claims that it has stopped buying Russian oil and may increase imports from the United States and Venezuela.

Ministry of External Affairs spokesperson Randhir Jaiswal emphasised India’s long-standing energy partnerships and reiterated that securing the energy needs of 1.4 billion Indians remains the government’s top priority.

He pointed out that diversifying energy sourcing in line with objective market conditions and evolving international dynamics is at the core of India’s strategy. “All of India’s decisions are taken and will continue to be taken with this objective in mind,” he said.

Responding to a question on buying oil from Venezuela, 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 the reimposition of sanctions.”

Earlier, Indian public sector undertakings (PSUs) have partnered with Venezuela’s national oil company PDVSA and have maintained a presence in the country since 2008. “Consistent with our energy security approach, India remains open to exploring the commercial merits of any crude supply options,” he added.

On claims by US President Donald Trump that India has stopped buying Russian oil, 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.”

The statements came after the White House claimed that India has agreed to stop purchasing Russian oil and may increase imports from the United States and potentially Venezuela as part of a new India-US trade agreement.

White House Press Secretary Karoline Leavitt said the agreement followed direct talks between President Trump and Prime Minister Narendra Modi. She added, “India is committed to not only no longer purchasing Russian oil but also buying oil from the United States, and perhaps from Venezuela, benefiting the US economy. PM Modi also pledged major investments in the US, totaling USD 500 billion across sectors such as transportation, energy and agriculture.”

Leavitt credited the deal to Trump’s tariff policy and trade strategy, saying it was already boosting American manufacturing and creating jobs. “Factories are being built right here in the United States, putting Americans to work,” she said.