The United States is in “active negotiation” over the sale of Venezuelan oil to India, to help India diversify its sources of crude oil, U.S. Envoy Sergio Gor said on Friday (February 20, 2026).
The U.S. has made diversification away from Russian crude a condition for cutting tariffs on goods imported from Indian, the world’s third-biggest oil importer and consumer.
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“The Department of Energy is speaking to the Ministry of Energy here, and so we’re hoping to have some news of that very soon,” Mr. Gor told reporters on the sidelines of an event in New Delhi where India joined the U.S.-led Pax Silica initiative aimed at building a silicon supply chain for high-tech products.
U.S. President Donald Trump this month agreed to cut tariffs on Indian goods to 18% under an interim trade deal. He also removed a 25% punitive levy after India agreed to end the purchase of Russian oil, which the U.S. said helps fund Russia’s invasion of Ukraine.
