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The United States is successful “active negotiation” implicit the merchantability of Venezuelan lipid to India, to help India diversify its sources of crude oil, U.S. Envoy Sergio Gor said connected Friday (February 20, 2026).
The U.S. has made diversification distant from Russian crude a information for cutting tariffs on goods imported from Indian, the world’s third-biggest lipid importer and consumer.
“The Department of Energy is speaking to the Ministry of Energy here, and truthful we’re hoping to person immoderate quality of that precise soon,” Mr. Gor told reporters connected the sidelines of an event successful New Delhi wherever India joined the U.S.-led Pax Silica inaugural aimed astatine gathering a silicon proviso concatenation for high-tech products.
U.S. President Donald Trump this period agreed to chopped tariffs on Indian goods to 18% under an interim commercialized deal. He besides removed a 25% punitive levy aft India agreed to extremity the acquisition of Russian oil, which the U.S. said helps money Russia’s penetration of Ukraine.
He said India would buy much lipid from the U.S. and perchance Venezuela.
Are Indian firms intent connected moving to Venezuelan oil? | Explained
A last commercialized deal with India volition beryllium signed “sooner than later” arsenic a “few tweaking points” are required, Mr. Gor said, adding Mr. Trump has been invited to India by Prime Minister Narendra Modi.
The interim commercialized woody is acceptable to go effectual successful April and the U.S. is apt to contented a ceremonial notification this period to trim its tariff connected Indian goods to 18%, Commerce Minister Piyush Goyal, said connected Friday (February 20, 2026).
The U.S. and allies imposed sanctions connected Russia’s vigor assemblage pursuing Russia’s 2022 invasion. India past became the apical lawsuit for Russian seaborne crude which it bought astatine rock-bottom prices, to the consternation of Western nations.
“On the oil, there’s an agreement... We person seen India diversify connected their oil. There is simply a commitment. This is not astir India. The United States doesn’t privation anyone buying Russian oil,” Mr. Gor said.
The U.S. had pitched the merchantability of Venezuelan lipid to India to assistance regenerate Russian lipid imports, Reuters reported past month.
It granted licenses to trading houses Vitol and Trafigura to marketplace and merchantability millions of barrels of Venezuelan lipid aft capturing Venezuelan president Nicolas Maduro last period and reaching a proviso statement with interim president Delcy Rodriguez.
State-run Indian Oil Corp, Hindustan Petroleum and Bharat Petroleum arsenic good arsenic private-sector refiners Reliance Industries and HPCL-Mittal Energy person ordered Venezuelan oil, Reuters has reported.
