India, Venezuela deepen oil and energy ties

Prime Minister Narendra Modi met Venezuela’s Acting President and Vice President Delcy Rodriguez in New Delhi on June 4, 2026, for talks aimed at strengthening bilateral cooperation. According to Indian officials, discussions centred on energy, trade and investment, with particular emphasis on deepening energy-security ties between the two countries.

Government spokespeople said the meeting was part of broader efforts to diversify India’s energy imports. The talks were described as an opportunity to advance sectoral cooperation and explore new areas of partnership within the economic relationship.

Indian officials said New Delhi has sharply increased crude oil purchases from Venezuela in recent weeks. Reporting cited by officials described Venezuela as having become one of India’s most important crude suppliers, noting that it was characterised as India’s third-largest crude oil supplier over this recent period.

The rising imports are framed by Indian officials as a response to recent global energy disruptions and as part of a strategy to strengthen energy security. Venezuela is seen within this approach as a significant source of crude that can help support India’s growing energy needs.

Rudrendra Tandon, a senior official in India’s foreign ministry, said the talks with Rodriguez focused strongly on energy cooperation. He stated that India is "aggressively seeking new sources of crude oil and energy," and described Venezuela as an "opportunity" within that strategy.

Officials highlighted that the objective is not only to secure additional volumes of crude but also to build a more resilient supply structure. Closer engagement with Venezuela is being pursued alongside broader diversification efforts across India’s energy import portfolio.

Delcy Rodriguez is in India on a multi-day visit leading a high-level Venezuelan delegation. The group includes ministers responsible for foreign affairs, economy and finance, science and technology, communication and information, and transportation, underscoring the broad agenda under discussion.

During the visit, Rodriguez met India’s Foreign Minister Subrahmanyam Jaishankar, where they discussed bilateral relations and sectoral cooperation. She was also scheduled to hold talks with Petroleum Minister Hardeep Singh Puri, aligning diplomatic engagement with concrete energy-sector discussions.

While energy ties formed the core of the June 4 meeting, Indian government spokespeople said talks with the Venezuelan side also covered trade and investment more broadly. Both sides are exploring potential cooperation across multiple sectors tied to the visiting ministers’ portfolios.

Officials indicated that the current engagement aims to translate rising oil trade into a wider economic partnership. The presence of senior economic, technology and transport officials in Rodriguez’s delegation was presented as a signal of interest in expanding collaboration beyond crude supplies.