Prime Minister Narendra Modi met with Venezuelan Acting President Delcy Rodríguez in New Delhi on June 4, 2026, to expand bilateral energy ties [2].
The meeting highlights India's strategic effort to diversify its energy sources and secure a stable supply of crude oil amid global market volatility.
The talks took place at Hyderabad House, where the two leaders focused on energy security and the increase of Venezuelan oil imports into India [1], [3]. This cooperation is critical for New Delhi, as India imports about 90% of its oil from abroad [1].
Rodríguez is currently on a five-day visit to India [2]. The discussions aimed to deepen cooperation between the two Global South partners, emphasizing a shared interest in expanding trade and investment [1], [4].
Both nations discussed mechanisms to facilitate the flow of Venezuelan crude, which would provide India with an alternative to traditional suppliers. The dialogue also touched upon broader economic ties, seeking to move the relationship beyond energy and into other trade sectors [3], [4].
The visit marks a significant diplomatic push by Venezuela to strengthen its presence in Asia. By leveraging its vast oil reserves, Venezuela seeks to establish more reliable trade partnerships with emerging economies that are less reliant on Western financial systems [1].
“India imports about 90% of its oil from abroad”
This meeting signals India's intent to prioritize energy security through the Global South, reducing dependence on a narrow set of suppliers. By increasing imports from Venezuela, India leverages its economic weight to secure cheaper or more reliable crude, while Venezuela gains a critical strategic partner to bypass traditional trade restrictions.
