India, Venezuela Deepen Energy Cooperation Amid Global Oil Supply Strain
The developments came during a five-day visit to India by Venezuela’s acting president Delcy Rodríguez, who held high-level talks with Indian Prime Minister Narendra Modi in New Delhi. The discussions focused on expanding bilateral cooperation across multiple sectors, with energy emerging as the central priority.
According to official Indian statements cited by reports, the two leaders reviewed the “full spectrum of bilateral relations” and explored new opportunities in areas including energy, trade, investment, healthcare, and automobile industries. Both sides also exchanged views on broader global and regional developments.
Officials said the two countries reaffirmed their intention to deepen their partnership and promote what they described as the interests of the Global South.
India’s foreign ministry spokesperson said the talks also covered “new avenues of cooperation” in sectors beyond energy, reflecting an effort to diversify economic engagement between the two countries.
Trade between India and Venezuela stood at approximately $679 million in the 2024–25 period, with both governments describing relations as traditionally warm.
The renewed diplomatic engagement comes as global energy markets face continued disruption linked to instability in the Middle East, which has affected key shipping routes and contributed to volatility in oil prices. These pressures have pushed several import-dependent economies, including India, to expand sourcing from alternative suppliers.
Recent reports indicate that India has increased imports of Venezuelan crude in recent months as part of a broader strategy to secure more stable and diversified energy supplies.
The talks in New Delhi are also part of wider efforts to advance cooperation among developing economies, with both sides emphasizing long-term collaboration in energy security and economic development.
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