India's oil sourcing guided by energy security, market conditions: MEA after Trump's claim on Russia, Venezuela
India remains open to exploring the commercial merits of any new crude supply options, including from Venezuela, says MEA
- Feb 5, 2026,
- Updated Feb 5, 2026 3:03 PM IST
Amid questions over US President Donald Trump's claim that New Delhi would stop buying Russian oil, India on Thursday reiterated that its energy sourcing decisions are guided by domestic energy security and market conditions.
"Insofar as India's energy sourcing is concerned, the government has stated publicly on several occasions that ensuring the energy security of 1.4 billion Indians is the supreme priority of the government," MEA spokesperson Randhir Jaiswal said while responding to questions on Trump's remarks.
He added that India's strategy is anchored in diversification and market logic. "Diversifying our energy sourcing in keeping with objective market conditions and evolving international dynamics is at the core of our strategy to ensure this. All of India's actions are taken and will be taken with this in mind."
Jaiswal also addressed questions on potential oil imports from Venezuela, noting that India's engagement with the country predates recent geopolitical developments. "Venezuela has been a long-standing partner of India in the energy sector encompassing trade and investments," he said.
The MEA spokesperson said that Venezuela was among India's major sources of crude oil until FY 2019–20, which were discontinued following sanctions. "Imports from Venezuela resumed in FY 2023–24, before being halted again due to the re-imposition of sanctions."
Jaiswal added that Indian public sector undertakings have maintained an energy presence in the country for years. "Indian PSUs have had a partnership with Venezuela's National Oil Company, PdVSA, and have been maintaining a presence in Venezuela since 2008."
He said India remains open to assessing new supply options strictly on commercial grounds. "Consistent with India’s approach to energy security, India remains open to exploring the commercial merits of any new crude supply options, including from Venezuela."
The MEA's clarification comes days after Trump claimed that India had agreed to stop buying Russian oil following a conversation with Prime Minister Narendra Modi. In a post on Truth Social, Trump said: "It was an Honor to speak with Prime Minister Modi...We spoke about many things, including Trade, and ending the War with Russia and Ukraine. He agreed to stop buying Russian Oil, and to buy much more from the United States and, potentially, Venezuela. This will help END THE WAR in Ukraine, which is taking place right now, with thousands of people dying each and every week!"
India has not made any announcement confirming a halt in Russian oil purchases.
Amid questions over US President Donald Trump's claim that New Delhi would stop buying Russian oil, India on Thursday reiterated that its energy sourcing decisions are guided by domestic energy security and market conditions.
"Insofar as India's energy sourcing is concerned, the government has stated publicly on several occasions that ensuring the energy security of 1.4 billion Indians is the supreme priority of the government," MEA spokesperson Randhir Jaiswal said while responding to questions on Trump's remarks.
He added that India's strategy is anchored in diversification and market logic. "Diversifying our energy sourcing in keeping with objective market conditions and evolving international dynamics is at the core of our strategy to ensure this. All of India's actions are taken and will be taken with this in mind."
Jaiswal also addressed questions on potential oil imports from Venezuela, noting that India's engagement with the country predates recent geopolitical developments. "Venezuela has been a long-standing partner of India in the energy sector encompassing trade and investments," he said.
The MEA spokesperson said that Venezuela was among India's major sources of crude oil until FY 2019–20, which were discontinued following sanctions. "Imports from Venezuela resumed in FY 2023–24, before being halted again due to the re-imposition of sanctions."
Jaiswal added that Indian public sector undertakings have maintained an energy presence in the country for years. "Indian PSUs have had a partnership with Venezuela's National Oil Company, PdVSA, and have been maintaining a presence in Venezuela since 2008."
He said India remains open to assessing new supply options strictly on commercial grounds. "Consistent with India’s approach to energy security, India remains open to exploring the commercial merits of any new crude supply options, including from Venezuela."
The MEA's clarification comes days after Trump claimed that India had agreed to stop buying Russian oil following a conversation with Prime Minister Narendra Modi. In a post on Truth Social, Trump said: "It was an Honor to speak with Prime Minister Modi...We spoke about many things, including Trade, and ending the War with Russia and Ukraine. He agreed to stop buying Russian Oil, and to buy much more from the United States and, potentially, Venezuela. This will help END THE WAR in Ukraine, which is taking place right now, with thousands of people dying each and every week!"
India has not made any announcement confirming a halt in Russian oil purchases.