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News India Live, Digital Desk: A huge upheaval is being witnessed in the global energy market. us President Donald Trump A recent statement by has shaken the geopolitical equations of the entire world. Trump has claimed that India will now fight against Russia and Iran Venezuela It is going to import crude oil from India and a big deal in this regard has been finalized. This move will not only impact the global oil market but may also bring a new turn in India’s strategic relations.
Donald Trump’s ‘Masterstroke’: Preparation to corner Russia and Iran? The US President made it clear in his address that after this new agreement with Venezuela, India’s dependence on those countries with which America has tense relations will reduce. Trump said, “The deal is sealed! India will now import oil from Venezuela. This step will bring stability to the global market and open new energy options for our allies.” Experts are considering this as part of the Trump administration’s strategy, through which they want to maintain pressure on Russia’s economy and limit Iran’s oil exports.
Why is Venezuelan oil important for India? India is closer to its needs 85% crude oil Imports. Since the Russia-Ukraine war, India has bought oil from Russia at a deep discount, but now amid the changing equations, Venezuela has emerged as an affordable option.
Heavy Oil: India’s refineries are well suited to process Venezuelan heavy oil.
Supply Chain: Venezuela has the world’s largest oil reserves, which can ensure supplies for a long period.
US sanctions eased: Indications of America softening the sanctions on Venezuela have cleared the way for this deal.
What will be the impact on Russia and Iran? In the last two years, Russia had become India’s largest oil supplier. If India diverts a large part of its purchases to Venezuela, it will be a major challenge for Russia to find new markets for its oil. At the same time, for Iran which is already facing tough sanctions, withdrawal of a big buyer like India can prove to be a big economic blow.
Indian economy and petrol and diesel prices Market analysts believe that if India gets oil from Venezuela at competitive rates, then domestically petrol and diesel prices There may be stability. This will reduce logistics costs and help in controlling inflation.
