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Russian oil curbs hit India Can Venezuelan crude realistically power refineries
Economy
Published on 24 April 2026
Caracas crude looks cheap but key logistics complicate deals
With Russian oil increasingly off-limits, India is looking at alternatives. Venezuelan crude from Caracas is tempting for cost reasons, but turning that promise into profit depends on navigating complex supply chains, pricing, sanctions risk, and refinery compatibility. The real question is whether volumes and economics can align quickly enough to matter.
- India faces tighter sourcing as Russian barrels become restricted
- Venezuelan crude may be cheaper, but deals are harder to execute
- Logistics, compliance risk, and pricing could erode the apparent savings
- Refinery suitability and steady supply will decide whether it works
Read the full story at The Economic Times
This summarization was done by Beige for a story published on 
The Economic Times