US Envoy Sergio Gor Says India Diversifying Oil Sources, Talks Underway on Venezuelan Crude; Trade Deal ‘Soon’

Newly appointed US Ambassador to India Sergio Gor on Friday said that New Delhi is actively working to “diversify” its oil sourcing strategy, signalling potential shifts in India’s energy procurement landscape. His remarks come shortly after India and the United States announced a trade agreement that indicated India would reduce its purchases of Russian oil.

Speaking to reporters on the sidelines of the India AI Impact Summit 2026, Gor said India is exploring a wider range of energy supply options. In comments to Reuters, the US envoy noted that discussions are underway regarding possible Venezuelan oil purchases, underscoring India’s efforts to broaden its crude import basket.

India, one of the world’s largest energy consumers, has significantly increased imports of discounted Russian crude in recent years. However, evolving geopolitical dynamics and expanding economic engagement with the US appear to be influencing New Delhi’s approach to energy security and trade.

Gor also expressed optimism about the bilateral trade pact, telling PTI that the agreement between India and the US is expected to be “inked soon.” The anticipated deal is seen as a key step in strengthening economic ties between the two countries, which have deepened cooperation across sectors including technology, defence, and clean energy.

While officials have not disclosed specific timelines or volumes related to potential Venezuelan oil imports, the ambassador’s comments highlight ongoing negotiations and India’s broader strategy to manage supply risks and price volatility in global energy markets.