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The Times of India

Business / The Times of India

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India to buy oil from Venezuela instead of Russia? US pitch to counter 25% tariffs

The US has permitted India to resume Venezuelan oil purchases, aiming to reduce its reliance on Russian crude. This move is part of a broader US strategy to redirect India's energy imports away from Russia amidst growing pressure and trade costs. India is set to significantly cut Russian crude imports in the coming months, diversifying its supply sources.

31 Jan 2026 8:52 am