A major change is being witnessed in the global energy market, where India is now moving towards reducing its purchases of Russian crude oil. According to newly appointed US Ambassador to India Sergio Gore, New Delhi is ‘diversifying’ its oil options and talks are on to buy oil from Venezuela. This strategic move has come after the trade agreement announced between America and India, in which India claimed to reduce the purchase of Russian oil.
US stance and India’s strategy on Russian oil
During the ‘India AI Impact Summit 2026’, US Ambassador Sergio Gore said that India is working on diversifying its energy options and talks are on to purchase oil from Venezuela. Gore has made it clear that a consensus has been reached regarding oil and America does not want any country to buy oil from Russia, it is not just about India. He said US President Donald Trump is very clear on this issue; He wants an end to the war and wants to see an end to all activities associated with this conflict in the hope of achieving peace.
Trump’s claim and India’s diplomatic stance
This trade agreement was announced by US President Donald Trump on February 2, 2026. Trump, in his ‘Truth Social’ post and a White House statement, had claimed that India had agreed to reduce or completely end the purchase of Russian oil. Although no such direct statement has been made by India, New Delhi has definitely made it clear that it will consider the possibility of increasing imports including oil from Venezuela.
Huge reduction in tariffs due to trade agreement
With this change on the energy front, trade relations between the two countries are also reaching a new level. Trump administration official Sergio Gore told news agency PTI that this trade agreement between India and America is expected to be sealed soon. This is a “historic” agreement, through which the US has reduced the tariff imposed on New Delhi from 50 percent to 18 percent. If seen, this trade agreement between America and India is not limited to just trade concessions, but it is a very important part of global energy diplomacy. India exploring new energy options like Venezuela instead of Russian oil is a clear sign of its adjustment to the changing global trade equations and US geopolitical priorities.