India Has Found An Alternative To Russian Oil

• 7.04.2026, 12:20

Trump's decision helped.

India is preparing to import the largest volume of oil from Venezuela in six years, helping to offset a shortage of crude from the Middle East caused by the conflict with Iran.

This is according to Bloomberg.

According to Kpler, more than 12 million barrels will arrive in April to India's west coast from Venezuela, the largest volume since February 2020.

The batches arriving in April were likely booked ahead of recent supply disruptions from the Middle East, underscoring a long-term strategic change rather than a purely reactive move, said Sumit Ritolia, the company's lead data analyst.

"The South Asian country, which imports about 90% of its oil, has been looking for alternatives after war with Iran disrupted supplies through the Strait of Hormuz, through which nearly 40% of the country's oil supply normally passes," the publication said. - "Venezuela produces similar high-sulfur blends, and India was previously a major buyer from this OPEC producer before trade was restricted by US sanctions, which Washington eased after the capture of dictator Nicolas Maduro in January."

The US Treasury Department reportedly eased sanctions against Venezuela in March - in the context of the administration of President Donald Trump seeking to stabilize the oil market during the war with Iran.