Description: Venezuela’s President Delcy Rodriguez met with Indian Prime Minister, Narendra Modi in New Delhi, where the leaders discussed deepening energy cooperation. Senior foreign ministry official, Rudrendra Tandon, stated that Venezuela has become India’s third largest oil supplier in recent weeks and the leaders would also discuss the possibility for Indian companies to invest in several Venezuelan sectors such as mining, pharmaceuticals, critical minerals and automotive industry development. Rodriguez is expected to meet with India’s Foreign Minister and the Petroleum Minister, Hardeep Singh Puri, to solidify the energy partnership in the upcoming days. Proceeds from Venezuela’s oil trade, ever since the US captured former President Nicolas Maduro, are controlled through special accounts of the US Treasury Department.
Impact: India’s rapprochement towards Venezuela is highly likely part of the US trade talks with the Indian government where the US exploits its dominion over Venezuela to use the latter’s energy resources as bilateral trade incentives. The US is likely attempting to use its renewed bilateral relationship with Venezuela as an investment driver to appease the Indian government in order to ultimately draw favorable terms on the previously concluded trade deal, which is yet to be finalized. The US would also likely exploit Venezuela to convince India into decoupling from Russian energy purchases which ultimately benefits Ukraine and by extension the US’s diplomatic push to end the war with Russia. Venezuela could likely provide India with a stable crisis outlet, which is caused by the war in Iran, however, long – term energy commitments would remain under discussions, since Venezuela is yet to politically reform, while sectors such as mining are still largely controlled by the colectivos.