Can Venezuelan oil support India’s energy needs during Hormuz crisis?

Venezuela has become India’s third-largest crude oil supplier this month, with shipments nearly 50% higher than in April amidst escalating tensions in the Middle East and restrictions on Iranian oil. Venezuelan Acting President Delcy Rodriguez is set to visit India next week to discuss oil sales, as the U.S. seeks to reintroduce Venezuelan crude to the global market. Despite years of sanctions crippling production, Venezuela holds the world’s largest oil reserves, presenting a strategic opportunity for both countries.

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