Venezuelan situation to have negligible impact on India’s energy security, data shows

The U.S. attack on Venezuela will likely have a negligible direct impact on India’s energy security, according to an analysis of the latest data.

The latest data from the Ministry of Commerce and Industry shows that India imported $255.3 million worth of oil from Venezuela in the current financial year up to November 2025, which works out to about 0.3% of its total oil import during this period. 

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Since 2019, India has been cutting its oil imports and commercial engagements with Venezuela in response to U.S. sanctions and threats of secondary sanctions from that year.  

“Given the low trade volumes, existing sanctions constraints, and the large geographical distance, the current developments in Venezuela are not expected to have any meaningful impact on India’s economy or energy security,” Ajay Srivastava, founder of the Global Trade Research Initiative and former Director General of Foreign Trade for the Indian government, said.

Venezuela is a member of the Organization of the Petroleum Exporting Countries (OPEC), a group of countries that largely dominate the global oil market. However, Venezuela itself currently produces a relatively small amount of crude oil compared to the other oil-producing nations. 

According to OPEC data, Venezuela accounts for about 3.5% of the OPEC’s total oil exports, and about 1% of global oil supplies. 

However, this relatively low supply is due to the U.S. sanctions on Venezuela. Most of Venezuela’s oil supply goes to China. 

Following the U.S.’ actions in Venezuela over the weekend, Mr. Trump announced that the U.S. would basically be taking over Venezuela’s oil supply.   

“We’re going to rebuild the oil infrastructure, which will cost billions of dollars, it will be paid for by the oil companies directly,” Mr. Trump said in his address following the attack. “And we’re going to get the oil flowing the way it should be.”