Overview
- U.S. forces conducted a large operation in Venezuela that captured President Nicolás Maduro and his wife, who were flown to the United States to face narco‑terrorism and drug trafficking charges.
- GTRI assesses that India will see no meaningful economic or energy disruption from the crisis given low current engagement and sanctions constraints.
- India’s 2024–25 imports from Venezuela totaled $364.5 million, including $255.3 million of crude, an 81.3% drop from $1.4 billion in crude purchases in 2023–24.
- Indian exports to Venezuela were $95.3 million, led by $41.4 million in pharmaceuticals, after trade and upstream activity receded sharply following 2019 sanctions.
- Pointing to Venezuela’s roughly 18% share of global proven oil reserves, GTRI contends U.S. access to that crude was a central motive and urges India to guard strategic autonomy in securing resources.