India is diversifying oil Imports, talks underway on Venezuelan crude: Sergio Gor

US Ambassador to India Sergio Gor on Friday (February 20) said that New Delhi was diversifying its oil import options, adding that there is an agreement in this regard. His remarks come days after India and the US announced a trade deal under which India will reduce importing oil from Russia.

‘Negotiations on for purchasing Venezuelan oil’

Speaking to reporters on the sidelines of the India AI Impact Summit 2026, Gor further stated that India was keen on diversifying its options for importing oil, adding that negotiations were going on for purchasing Venezuelan oil.

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“On oil, there's an agreement. We have seen India diversify on their oil. There is a commitment. This is not about India. The United States doesn't want anyone buying Russian oil. The President's been very clear on this, he wants this war to end,” said Gor.

“And so anyone who is in a way still involved with that conflict is something that the President wants to see come to an end in hopes of peace coming with that,” as quoted by ANI. He further stated that the US-India trade deal will be “inked soon.”

‘Trump-Modi meeting at right time’

Asked about a meeting between US President Donald Trump and Prime Minister Narendra Modi, Gor said that it will take place at the right time. "Stay tuned, I'm sure it'll happen at the right moment," Gor told ANI.

Also Read: US envoy Sergio Gor calls India most essential partner, predicts Trump's visit by 2027

Trump hosted PM Modi during his official visit to Washington DC on February 13 last year.

US Secretary of State Marco Rubio will visit India in the next few months, US Ambassador Sergio Gor said on Friday.

Gor also described the Quad coalition as an important grouping for cooperation among its member states. The envoy said India and the US are taking their bilateral ties to the next level.

The backdrop

India and the United States unveiled what they described as a historic bilateral trade agreement, under which U.S. duties on Indian products have been cut from around 50 per cent to about 18 per cent, U.S. officials said. The pact was announced by Trump on February 2.

Also Read: US Ambassador-Designate Sergio Gor meets Modi, gifts PM's photo with Trump

In statements on his Truth Social account and in an official White House release, Trump said New Delhi had agreed to scale back and eventually stop buying Russian crude as part of the arrangement.

While New Delhi has not formally echoed that specific pledge, the Indian government has reportedly signalled plans to pursue additional oil supplies from Venezuela and other markets, including the United States.

(With agency inputs)