India Set To Import Most Venezuelan Oil In 6 Years Amid Iran War Fallout: How That’ll HelpAmid severe supply disruptions caused by the Iran war and the near-closure of the Strait of Hormuz, India is turning back to an old supplier it hasn’t relied on heavily in years. New Delhi is set to import over 12 million barrels of Venezuelan crude this month — the highest volume since February 2020. India used to be a major buyer of Venezuelan oil, but US sanctions had largely halted that trade since 2020. That changed after the capture of Nicolas Maduro in January 2026, when sanctions were eased. Venezuelan heavy crude is similar to the Middle Eastern grades Indian refineries are used to, yielding higher volumes of diesel and jet fuel — exactly what India needs right now.

Source: Mint April 08, 2026 11:12 UTC