India's foreign ministry said on Tuesday that Delcy Rodriguez, the interim president of Venezuela, will come to India from June 3 to June 7. This comes at a time when New Delhi is increasing its purchases of petroleum from Caracas.
According to Reuters, India purchased 427,000 barrels of Venezuelan oil per day in May, making it the second-largest importer after the United States. One of the top three purchasers of Venezuelan crude in recent months is India's Reliance Industries.
ALSO READ: Drone Warfare: After Iran's Shahed, Here's Why Hezbollah's 'Night-Hunters' Are In Spotlight
According to Indian Foreign Ministry spokesperson Randhir Jaiswal, Rodriguez will meet with Indian Prime Minister Narendra Modi during her visit.
Energy, commerce, investment, pharmaceuticals, healthcare, transportation, and renewable energy are just a few of the sectors of India-Venezuela relations that would be covered in the talks, according to Jaiswal.
According to an Indian source, she is also anticipated to visit prominent figures in the Indian energy sector in Mumbai, the country's financial hub.
Rodriguez led a group attending the India Energy Week conference during her most recent trip to India in February 2025 while serving as Venezuela's oil minister.
Her visit coincides with supply problems brought on by the US-Israeli conflict with Iran, which has essentially closed the Strait of Hormuz, a vital route that carried over 40% of the South Asian country's imports of crude oil. India is the third-largest oil importer and user in the world.
ALSO READ: India's Fuel Exports Fall To Near Four-Year Low As US-Iran War Disrupts Energy Trade
After US President Donald Trump approved a 25% discretionary duty on nations purchasing crude from the South American country, India ceased purchasing Venezuelan oil last year. When sanctions were lifted in February as a result of a major oil supply agreement between Washington and Caracas, it started making purchases again.
Washington controls the proceeds from Venezuelan oil sales through Treasury Department-managed bank accounts under the arrangement, which was negotiated following the US arrest of President Nicolas Maduro in January. Commercial terms also adhere to its directives.
Essential Business Intelligence, Continuous LIVE TV, Sharp Market Insights, Practical Personal Finance Advice and Latest Stories — On NDTV Profit.
