President Donald Trump made a bargain with India this week that introduced a simple calculus.
America dramatically lower s tariffs on Indian goods.
India stops buying Russian oil in favor of Venezuelan and American crude.
Russia will be deprived of a core customer and source of funding for the war in Ukraine.
The reality isn’t that simple. Venezuela’s crude operation isn’t yet up to snuff, and India can’t easily turn its back on Russia.
But it’s a start. Trump can still use Venezuela’s newly open-for-business oil industry to fight Russia on economic terms and limit its ability to continue its devastating war with Ukraine.
What Venezuela offers
India and China make up the vast majority of Russia’s oil sales. Western countries have sanctioned Russian oil since the start of the Ukraine war, so those Indian and Chinese oil purchases are crucial to help keep Russia’s economy afloat.
Venezuela’s oil offers an attractive alternative.
It
Continue Reading on CNN
This preview shows approximately 15% of the article. Read the full story on the publisher's website to support quality journalism.