Venezuela's interim president, Delcy Rodriguez, will make an official visit to India from June 3 to 7 to strengthen cooperation between the two countries, particularly in the energy sector. This trip comes as New Delhi significantly increases its imports of Venezuelan oil.
According to the Indian Ministry of External Affairs, Delcy Rodriguez is scheduled to meet with several Indian political and economic leaders, including Prime Minister Narendra Modi. Discussions will cover a wide range of topics, including energy, trade, investment, pharmaceuticals, health, transportation, and renewable energy.
Energy, however, is expected to play a central role in trade. India has become one of the main buyers of Venezuelan crude oil since the easing of some US sanctions in February. In May, India became the second-largest importer of Venezuelan oil, after the United States, with purchases estimated at 427,000 barrels per day.
The Indian group Reliance Industries is among the main importers of Venezuelan crude oil and has established itself in recent months as one of Caracas's most important customers. This resumption of energy trade offers a breath of fresh air to the Venezuelan economy, which is heavily dependent on oil revenues.
According to an Indian source cited by Reuters, Delcy Rodriguez is also expected to meet with energy sector leaders in Mumbai to explore new opportunities for cooperation and investment. These discussions could further strengthen the presence of Venezuelan oil in the Indian market.
This visit illustrates Venezuela's desire to strengthen its partnerships with major emerging economies and India's desire to diversify its energy supplies. In a context of reshaping global energy markets, both countries are seeking to deepen an economic relationship that has become increasingly strategic.
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