A day after the US captured Venezuelan President Nicolas Maduro and his wife in a military operation, India expressed “deep concern” over the development. A statement from the Ministry of External Affairs said it was monitoring the evolving situation closely.
"Recent developments in Venezuela are a matter of deep concern. We are closely monitoring the evolving situation," the MEA statement said, adding that India reaffirms its support to the well-being and safety of the people of Venezuela.
India also called for resolving the issues peacefully to ensure peace and stability in the region. "We call upon all concerned to address issues peacefully through dialogue, ensuring peace and stability of the region," it added in a statement.
The MEA also said that the Indian embassy in Caracas has been in touch with members of the Indian community and will continue to provide all possible assistance to them. According to the embassy website, there are approximately 50 non-resident Indians and 30 people of Indian origin in the country.
The ministry has also issued a security advisory late Saturday advising people against travelling to the country. “In view of recent developments in Venezuela, Indian nationals are strongly advised to avoid all non-essential travel to Venezuela,” the advisory stated.
The embassy can be reached via email at cons.caracas@mea.gov.in or the emergency phone number +58-412-9584288.
How will it affect India?
Geo-political experts warn that India could face the aftermath of Venezuela crisis, as India has a history of importing oil from the Latin American country. While India had bilateral trade worth $6,397 million in 2019-20, it plummeted to $431 million in 2022-2023, thanks to the US sanctions on Venezuela.
Another shocker for India would come from the fluctuating oil prices, which are bound to happen soon. The United States controls the world's largest oil reserves, and Trump has announced that the US would take control of Venezuela’s massive oil reserves and recruit American companies to invest billions of dollars to refurbish the country’s gutted oil industry. India imports over 80 per cent of its crude oil needs.
Venezuela is sitting on a massive 303 billion barrels worth of crude — about a fifth of the world’s global reserves.